By Jessica Zigmond
October 19, 2012
Albuquerque-based Lovelace Health System has acquired Southwest Medical Associates, a physician practice that will retain its name, leadership and all 150 employees in the deal. No financial terms were disclosed, said a spokeswoman for Lovelace.
Effective immediately, the transaction starts a new physician model for Lovelace that will rely on a mix of employed, strategically aligned and community physicians.
“We are committed to developing strong and lasting relationships with physicians—regardless of whether we employ them or are affiliated with them in any other way,” Ron Stern, president and CEO at Lovelace, said in a news release. Meanwhile, Dr. Kenneth Rogers, president of Southwest Medical Associates, said in the announcement that accessing Lovelace's infrastructure, resources, and health plan will allow Southwest Medical Associates to recruit and retain top-level physicians as well as midlevel providers and staff. The physician practice was established in Albuquerque in 1979.
Part of Ardent Health Services, Lovelace Health System includes six hospitals and a health plan that offers health insurance to about 210,000 people in New Mexico