Skaggs name change takes effect

Temporary CoxHealth signage has gone up in Branson, part of the name change process as Skaggs Regional Medical Center transitions to Cox Medical Center Branson.

The change of moniker, which went into effect New Year's Day, comes after CoxHealth and Skaggs in September finalized a financial partnership, whereby CoxHealth became the Branson hospital's parent company.

Yesterday, CoxHealth celebrated the finalization of the partnership with a news conference to present a $25 million donation to the Skaggs Foundation, which has retained its name to recognize the hospital's namesake, M.B. Skaggs, according to a news release.

"This partnership has been a year in the making, and we are excited to move forward together providing the highest quality health care to our friends and neighbors in the Tri-Lakes area,” CoxHealth President and CEO Steve Edwards said in the release. “In the coming weeks and months, our investments in technology, facilities, employees and physicians will take shape as we honor M.B. Skaggs’ legacy of caring and commitment to the people of Branson.”

CoxHealth has committed to invest more than $120 million in the Branson hospital during the next five to seven years. After five years of operational losses - the deepest loss of $6 million occurring in fiscal 2009 - Skaggs began seeking a financial partner in early 2012.

The agreement allows CoxHealth to take over the responsibilities of the now-dissolved Skaggs Board of Trustees, and both hospitals will have representation on each other's boards. Skaggs executive William Mahoney has been retained as president and CEO of Cox Medical Center Branson, the release said.

“We are pleased that CoxHealth, a locally owned health care system, has invested in us as a fully comprehensive hospital that takes care of our community and visitors,” Mahoney said in the release. “Their generous investment allows us to continue our tradition of quality health care, upgrade facilities and have state-of-the-art equipment. Facilities and equipment will change but our commitment to the health of our community remains the same.”