brianstl Posted June 1, 2015 Share Posted June 1, 2015 SLU ends up with a minority share of SSM and governance rights in SSM's St Louis operations. http://www.stltoday.com/business/local/ssm-health-to-buy-st-louis-university-hospital/article_6ea04580-9b75-58f0-908d-a6f77faeb1af.html Quote Link to comment Share on other sites More sharing options...
Box and Won Posted June 1, 2015 Share Posted June 1, 2015 Is this believed to be a sound financial decision for SLU? Quote Link to comment Share on other sites More sharing options...
BigMouthBilliken Posted June 1, 2015 Share Posted June 1, 2015 Could someone older and wiser please share the story behind SLU hospital? It was one owned by SLU? Then sold to tenet health care? Now SLU owns it again? Is partnering with SSM? Confusing... Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 1, 2015 Share Posted June 1, 2015 Slu had what best can be described as a "rocky" relationship with Tenet. SLU has to have some sort of alliance with a hospital to be able to maintain their high level medical school. I assume the price they paid was beneath what they sold the hospital to Tenet. So now it seems to me that this was a good deal all the way around. I have two sorrows though. My son is already through college so never got the full "employee" (wife is a nurse at the hospital) discount for tuition. Already had my heart attack and dealt with the J.O. tenet staff on medical bills. Ironically it was the SLU CARE staff that finally interceded for me to resolve the idiocy and draconian attitude of tenet. I say good riddance to tenet. The Slu people and hospital employees are wonderful. The losers in Texas won't be missed. This is a wonderful event for everyone. Quote Link to comment Share on other sites More sharing options...
brianstl Posted June 1, 2015 Author Share Posted June 1, 2015 Slu had what best can be described as a "rocky" relationship with Tenet. SLU has to have some sort of alliance with a hospital to be able to maintain their high level medical school. I assume the price they paid was beneath what they sold the hospital to Tenet. So now it seems to me that this was a good deal all the way around. I have two sorrows though. My son is already through college so never got the full "employee" (wife is a nurse at the hospital) discount for tuition. Already had my heart attack and dealt with the J.O. tenet staff on medical bills. Ironically it was the SLU CARE staff that finally interceded for me to resolve the idiocy and draconian attitude of tenet. I say good riddance to tenet. The Slu people and hospital employees are wonderful. The losers in Texas won't be missed. This is a wonderful event for everyone. It should give the school a much better partner and give it set up closer to what Wash U has with BJC across many different hospitals and specialties. Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 1, 2015 Share Posted June 1, 2015 Could someone older and wiser please share the story behind SLU hospital? It was one owned by SLU? Then sold to tenet health care? Now SLU owns it again? Is partnering with SSM? Confusing... Biondi sold the bricks and mortar of the hospital to Tenet in 1998. The money he got was big. A lot of the advancements facility wise to our campus can likely be attributed to the sale. The deal was to allow the doctors and medical school of slu to continue to practice at the hospital. Shortly after the sale tenet really fell on hard times and during their long recovery always seemed to be trying to get back some of that premium they paid one way or another. Amazingly I believe tenet knew they had quite a jewel with slu hospital and they did do a good job of keeping the level of the facility itself up-to-date imo. Personally I can't say enough good about the care they provide. Now if you are talking about administration that's another issue. Quote Link to comment Share on other sites More sharing options...
JMM28 Posted June 1, 2015 Share Posted June 1, 2015 I thought there was some sort of financial windfall for SLU in the timing of the sale of Tenet stock or something to that effect? Or did I dream that? Quote Link to comment Share on other sites More sharing options...
brianstl Posted June 1, 2015 Author Share Posted June 1, 2015 Pestello makes it sound like they may start using some of the land they have been banking around the hospital. http://www.bizjournals.com/stlouis/news/2015/06/01/ssm-health-acquiring-slu-hospital.html Quote Link to comment Share on other sites More sharing options...
BigMouthBilliken Posted June 1, 2015 Share Posted June 1, 2015 Biondi sold the bricks and mortar of the hospital to Tenet in 1998. The money he got was big. A lot of the advancements facility wise to our campus can likely be attributed to the sale. The deal was to allow the doctors and medical school of slu to continue to practice at the hospital. Shortly after the sale tenet really fell on hard times and during their long recovery always seemed to be trying to get back some of that premium they paid one way or another. Amazingly I believe tenet knew they had quite a jewel with slu hospital and they did do a good job of keeping the level of the facility itself up-to-date imo. Personally I can't say enough good about the care they provide. Now if you are talking about administration that's another issue. Appreciated. So is it a buy low sell high kind of thing for the university? Quote Link to comment Share on other sites More sharing options...
brianstl Posted June 1, 2015 Author Share Posted June 1, 2015 The school's official release on the hospital. http://www.slu.edu/x106106.xml Quote Link to comment Share on other sites More sharing options...
Dwayne's_World Posted June 1, 2015 Share Posted June 1, 2015 This will be awesome for the medical school and the entire university Quote Link to comment Share on other sites More sharing options...
RiseAndGrind Posted June 1, 2015 Share Posted June 1, 2015 Really think it will help the medical school be competitive. Quote Link to comment Share on other sites More sharing options...
brianstl Posted June 1, 2015 Author Share Posted June 1, 2015 It would really be something if SLU/SSM could turn that section of Grand into something close to what Wash U/BJC has on Kingshighway. Quote Link to comment Share on other sites More sharing options...
MB73 Posted June 1, 2015 Share Posted June 1, 2015 Tenet = good riddance. SLU Hospital will be much better off in this new alignment, but will not return to the prominent position it held many years ago. It's location has hindered and will continue to thwart it's ability to thrive in the new healthcare environment. A lot of the metroploitan county population is simply not willing to travel to mid city / inner city hospitals for so many reasons. FYI, IMO BJC, which is also slipping, is making a big mistake investing $ 2.5 billion on their (Kingshighway) Campus Renewal Project. Quote Link to comment Share on other sites More sharing options...
RiseAndGrind Posted June 1, 2015 Share Posted June 1, 2015 Tenet = good riddance. SLU Hospital will be much better off in this new alignment, but will not return to the prominent position it held many years ago. It's location has hindered and will continue to thwart it's ability to thrive in the new healthcare environment. A lot of the metroploitan county population is simply not willing to travel to mid city / inner city hospitals for so many reasons. FYI, IMO BJC, which is also slipping, is making a big mistake investing $ 2.5 billion on their (Kingshighway) Campus Renewal Project. You are literally the only person in the history of the world who thinks BJC is making a mistake with its CWE campus. Quote Link to comment Share on other sites More sharing options...
brianstl Posted June 1, 2015 Author Share Posted June 1, 2015 Tenet = good riddance. SLU Hospital will be much better off in this new alignment, but will not return to the prominent position it held many years ago. It's location has hindered and will continue to thwart it's ability to thrive in the new healthcare environment. A lot of the metroploitan county population is simply not willing to travel to mid city / inner city hospitals for so many reasons. FYI, IMO BJC, which is also slipping, is making a big mistake investing $ 2.5 billion on their (Kingshighway) Campus Renewal Project. Have you checked prices for rehabbed and recent construction houses in the city's central corridor lately? Paid attention to what is going on at Cortex at all? Quote Link to comment Share on other sites More sharing options...
willie Posted June 1, 2015 Share Posted June 1, 2015 I thought there was some sort of financial windfall for SLU in the timing of the sale of Tenet stock or something to that effect? Or did I dream that? I think it was the opposite. Biondi took stock for the sale and did not sell. Tenet stock sank and the University ended up selling at a low. Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 1, 2015 Share Posted June 1, 2015 Tenet = good riddance. SLU Hospital will be much better off in this new alignment, but will not return to the prominent position it held many years ago. It's location has hindered and will continue to thwart it's ability to thrive in the new healthcare environment. A lot of the metroploitan county population is simply not willing to travel to mid city / inner city hospitals for so many reasons. FYI, IMO BJC, which is also slipping, is making a big mistake investing $ 2.5 billion on their (Kingshighway) Campus Renewal Project. I was down there a lot this past month with the new shriner hospital opening. The bjc campus is wonderful. I can't believe you cannot be more visionary than the above. "Runaway" is not always the answer. Quote Link to comment Share on other sites More sharing options...
Dwayne's_World Posted June 1, 2015 Share Posted June 1, 2015 I was down there a lot this past month with the new shriner hospital opening. The bjc campus is wonderful. I can't believe you cannot be more visionary than the above. "Runaway" is not always the answer. I rode my bike down west pine to forest park and passed by all of the construction going on around the Barnes medical campus. It's going to be great for the whole area. A lot of exciting stuff going on in midtown, everything is going to look a lot different in just another year with the IKEA and multiple new apartment complexes. Can't believe some people think running away to the counties is still attractive to younger people, it's actually quite the opposite nowadays. Quote Link to comment Share on other sites More sharing options...
slu72 fan Posted June 1, 2015 Share Posted June 1, 2015 I was down there a lot this past month with the new shriner hospital opening. The bjc campus is wonderful. I can't believe you cannot be more visionary than the above. "Runaway" is not always the answer. Is it possible that you're both right? BJC has, and continues, to invest a fortune in the county. Generally, I think people go to the Kingshighway location because they need to, not because they care where it's located. I think they'd rather go to the most convenient location for the patient and their family. Quote Link to comment Share on other sites More sharing options...
MB73 Posted June 1, 2015 Share Posted June 1, 2015 BJC/WU has absolutely made brilliant, successful strategic moves in their outreach to the county, the new Children's facility on 40 in west county is the most recent example. But what does that tell you? So, as a separate issue I (and other people on this planet) wonder about the wisdom of investing $ 2.5 billion on the Kingshighway corridor. Quote Link to comment Share on other sites More sharing options...
ACE Posted June 1, 2015 Share Posted June 1, 2015 BJC/WU has absolutely made brilliant, successful strategic moves in their outreach to the county, the new Children's facility on 40 in west county is the most recent example. But what does that tell you? So, as a separate issue I (and other people on this planet) wonder about the wisdom of investing $ 2.5 billion on the Kingshighway corridor. They are foo foo??? Quote Link to comment Share on other sites More sharing options...
billiken_roy Posted June 1, 2015 Share Posted June 1, 2015 BJC/WU has absolutely made brilliant, successful strategic moves in their outreach to the county, the new Children's facility on 40 in west county is the most recent example. But what does that tell you? So, as a separate issue I (and other people on this planet) wonder about the wisdom of investing $ 2.5 billion on the Kingshighway corridor. Maybe BECAUSE there is as much of a need to reach to the east to provide high quality patient care as there is to chesterfield and west. To ignore their traditional campus is all but sending half or more of their patients eisewhere. Especially with Slu now becoming part of ssm. For example Chesterfield probably seems like Kansas City for people in Illinois. Quote Link to comment Share on other sites More sharing options...
brianstl Posted June 1, 2015 Author Share Posted June 1, 2015 The three city wards(6th, 17th, and 19th) that include and surround SLU/SLU Hospital saw a combined 6% increase in population from 2000-2010. It has only accelerated since then. Quote Link to comment Share on other sites More sharing options...
MB73 Posted June 1, 2015 Share Posted June 1, 2015 The three city wards(6th, 17th, and 19th) that include and surround SLU/SLU Hospital saw a combined 6% increase in population from 2000-2010. It has only accelerated since then. This means almost zero, nothing, though to you it might. Maybe BECAUSE there is as much of a need to reach to the east to provide high quality patient care as there is to chesterfield and west. To ignore their traditional campus is all but sending half or more of their patients eisewhere. Especially with Slu now becoming part of ssm. For example Chesterfield probably seems like Kansas City for people in Illinois. Yes, I think SLU's alliance with SSM will help. And I understand the dynamics, including the east side piece, not just Chesterfield; all of this is not that simple. I do think that pounding $ 2.5 billion into bricks and mortar downtown will not pay off, and so do some other healthcare observers. Quote Link to comment Share on other sites More sharing options...
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