July 2018
Volume 17 • Issue 7
Trios Health emerges from bankruptcy, sells home health program BY TRI-CITIES AREA JOURNAL OF BUSINESS STAFF
Real Estate & Construction
Construction begins this fall on $13M hotel near Tri-Cities Airport Page 21
Energy
Framatome engineers earn award for nuclear fuel assembly model Page 39
Business Profile
West Richland clock repairman keeps on ticking Page 52
he Said It “Having a bank headquartered in your community is especially important as the deposits are lent primarily back within the community from which they are taken.” - Eric Pearson, CEO, Community First Bank Page 13
With nearly a year in bankruptcy soon to be in the rearview, Trios Health is moving ahead with plans to be acquired by private Tennessee company RCCH HealthCare. Trios also sold its home health service program for $1.1 million on July 2. The RCCH acquisition, expected to close sometime in late July or early August, does not include Trios Home Health Care. Kennewick Public Hospital District signed an agreement with Iron Bridge Healthcare Inc., doing business as Columbia River Home Health, a local affiliate of home health, hospice and home care services provider Cornerstone Healthcare, for Trios’ home health operations. Trios’ home health program’s 18 staffers — 10 registered nurses, four physical therapists, one occupational therapist and three support and administrative staff — were offered positions with Cornerstone or the option to stay at Trios Health in alternative roles, for which they must be qualified. The U.S. Bankruptcy Court for the Eastern Division of Washington confirmed the hospital district’s Chapter 9 plan for adjustment of debts in June. The hospital district had more than 3,000 creditors holding about $221 million in claims, according to court documents. These creditors included bondholders, real and personal property lessors and lenders, current or former employees and retirees, political subdivisions, or state or federal agencies and others. The court-approved debt plan comes just shy of a year after the hospital district filed for Chapter 9 bankruptcy protection. Chapter 9 specifically provides for the reorganization of municipalities, providing a grace period to propose a plan for the adjustment of the municipality’s debts to third parties. Trios Health’s restructuring reduces the company’s pre-bankruptcy debt by about $350 million. uTRIOS, Page 3
Gary Gemar, center, chief operating officer of Incyte Diagnostics, stands with Daniel Jardine, left, of NAC Architecture, and Mac McGrath, right, of Bouten Construction Co., outside Incyte’s new laboratory at 221 Wellsian Way in Richland. The $1.6 million renovation project will create a consolidated location to serve clinicians at Kadlec and in Pendleton, Walla Wall and Yakima.
Pathology provider consolidates operations into Richland lab BY KRISTINA LORD editor@tcjournal.biz
Faster test results for patients and streamlined operations prompted a Spokane Valley pathology services provider to open a laboratory in Richland. Incyte Diagnostics has been working on a $1.6 million renovation of a vacant office building at 221 Wellsian Way for an Aug. 13 opening. Incyte is leasing the building, with an option to buy, to create a centralized location to serve clinicians at Kadlec and in
Pendleton, Yakima and Walla Walla. “We can take advantage of all staffing at one location with better production, better cross training and more efficient use of equipment,” said Gary Gemar, chief operating officer of Incyte Diagnostics. Incyte also recently inked a contract with Kadlec to provide its histology services. Histology is the study of the microscopic structure of tissues. The 7,608-square-foot building is next door to the Academy of Children’s Theatre. uINCYTE, Page 4
New tapas restaurant serves up small plates, unique experience BY ROBIN WOJTANIK
for Tri-Cities Area Journal of Business
When the ladies’ restroom is a must-see stop, you know the partners behind The Bradley want customers to notice every elegant finish of Richland’s new tapas restaurant and bar. “We put so much attention into detail,” said co-owner Zac Mason. “We obsessed over getting everything right.” Located in the former Rosy’s Diner at 404 Bradley Blvd., the restaurant is close to the Columbia River and just east of George Washington Way. The Bradley generated word-of-mouth buzz ahead of its official grand opening. Describing its offerings as “upscale service in chic, industrial aesthetics,” The Bradley is a unique new option for gourmet food and craft cocktails.
“We thought it was high time to bring something for young professionals, something for people who have culture and have traveled, and bring that to the Tri-Cities because there wasn’t a whole lot here for that. We believe in community and we wanted to be a part of raising the bar,” Mason said. Drinks are served from behind a sleek, white Silestone bar top off a menu that includes an $18 signature cocktail made using a torch, smoked glass and Earl Greyinfused bourbon. Offering local spirits, wines and beers next to international and top-shelf selections, it’s clear this restaurant hopes to be the newest hotspot for a Tri-City demographic eager to experience the kind of food and drinks normally reserved for metropolitan locations. uBRADLEY, Page 9
PLEASE DELIVER TO CURRENT Occupant
Tri-Cities Area Journal of Business 8919 W. Grandridge Blvd., Ste. A1 Kennewick, WA 99336
PRESORTED STANDARD U.S. POSTAGE PAID PASCO, WA PERMIT NO. 8778