RAPID CITY, S.D. – Two of the largest health care providers in the region, Rapid City Medical Center and Monument Health, announced Friday that they have signed a Letter of Intent for Rapid City Medical Center to join the Monument Health system.
Under the terms of the agreement, both organizations will enter a period of due diligence. The parties intend to sign definitive agreements and finalize the transaction later this spring.
Leadership from both institutions cited the rapid evolution of health care delivery as a primary driver for the merger. They noted that the proactive move is designed to support physicians and caregivers while maintaining access to medical services throughout Rapid City and the surrounding Black Hills region.
Rapid City Medical Center and Monument Health share a longstanding commitment to physician leadership, community-based care and keeping patients close to home, the organizations said in a joint statement. The agreement provides a framework to support those priorities following the official closing.
While many physicians from Rapid City Medical Center are expected to join Monument Health as part of the deal, some providers will remain independent or join other local practices to continue serving the community.
Both entities will continue to operate independently during the transition process. For the time being, patient care, provider assignments, clinic locations and insurance participation will remain unchanged.
“Rapid City Medical Center was founded by physicians committed to caring for people in the Black Hills, and that commitment hasn’t changed,” said Jay Hammerquist, CEO of Rapid City Medical Center. “We’re pursuing this transaction because Monument Health shares our belief in physician leadership, community-based care and the importance of keeping health care decisions rooted here at home.”
Paulette Davidson, President and CEO of Monument Health, emphasized the shared mission of the two organizations in South Dakota.
“Monument Health was built to serve this region, and our mission has always been centered on caring for our neighbors close to home,” Davidson said. “We respect the strong physician-led culture at Rapid City Medical Center and believe it’s important to develop a closer relationship – grounded in our shared values and long-standing commitment to the Black Hills – that will support patients, physicians and caregivers over the long term.”
Both organizations stated that additional information regarding the merger will be shared as it becomes available.
