Texas Health, LHP team to ac­quire Jones med­i­cal cen­ter

Modern Healthcare - - Late News -

Not-for-profit Texas Health Re­sources, Arlington, and for-profit LHP Hospi­tal Group, Plano, Texas, an­nounced that they have formed a joint ven­ture that has ac­quired 215-bed Wil­son N. Jones Med­i­cal Cen­ter, Sher­man, Texas. The deal in­cludes a $25 mil­lion cap­i­tal com­mit­ment over the next four years, but other fi­nan­cial terms were not dis­closed. The hospi­tal has been re­named Texas Health Pres­by­te­rian Hospi­talWNJ. Texas Health holds a ma­jor­ity stake in the joint ven­ture; LHP will man­age the hospi­tal. Texas Health and the man­age­ment team of LHP are well-ac­quainted. Dou­glas Hawthorne, Texas Health’s CEO, has been a di­rec­tor of LHP since its 2008 found­ing. Most of LHP’s man­age­ment team used to run Triad Hos­pi­tals, Plano, Texas, which formed a joint ven­ture with Texas Health to build and op­er­ate Pres­by­te­rian Hospi­tal of Den­ton (Texas). Af­ter Com­mu­nity Health Sys­tems, Franklin, Tenn., bought Triad Hos­pi­tals in July 2007, Texas Health later bought out Com­mu­nity’s stake in the hospi­tal.

Newspapers in English

Newspapers from USA

© PressReader. All rights reserved.