CONWAY – In August, the boards of directors of Conway Regional Health System (Conway Regional) and CHI St. Vincent announced that the two health systems signed an agreement whereby Conway Regional enters into a five-year management agreement with CHI St. Vincent.  Under the agreement, effective August 17, each health system retains its name, governance and autonomy. This agreement comes after months of discussions between the two organizations, the final phase of a process that began in late 2013 when Conway Regional’s board announced they were seeking a strategic affiliation partner to ensure that Conway Regional will be well positioned to continue providing access to high quality health care services for Faulkner County and the north central Arkansas area.

As a result of these discussions, the two companies also announced the formation of a new corporate entity called the Arkansas Health Alliance. Jim Lambert, President and CEO of Conway Regional, becomes President of the Arkansas Health Alliance effective August 17. The Alliance is the only organization of its kind in Arkansas designed to help independent community hospitals and health care systems lower their costs while achieving a level of clinical integration and coordination of care to promote more accessible, higher quality and lower cost care for the communities served by Alliance members.

As part of the management agreement, Matt Troup, Vice President of Ancillary and Support Services for CHI St. Vincent, succeeds Lambert as CEO of Conway Regional.  Troup has nearly twenty years’ experience serving in administrative leadership positions at large medical centers in very competitive markets.

Commenting on the agreement, Barbara G. Williams, Chairman of the Conway Regional Board, said that their responsibility will always be the health and well-being of the residents of the five counties they have served since 1938. This partnership will provide the community with expanded services and specialties while working to reduce health care costs.

Chad S. Aduddell, CEO of CHI St. Vincent, said that through this agreement, they plan to work together to grow the health services provided in their communities.  Their approach will be consumer-focused and based on the value of services provided rather than the volume of care, as in the traditional fee-for-service method and that Conway Regional and CHI St. Vincent can lead the way for other health care systems in the state.