In­vest­ment firm plans to ac­quire Hous­ton hos­pi­tal

Modern Healthcare - - Late News -

A Hous­ton-based in­vest­ment firm has acquired a lo­cal hos­pi­tal and will re­store in­pa­tient ser­vices that its for­mer owner, Nashville-based HCA, ended last year, ac­cord­ing to a news re­lease from the firm. Terms were not dis­closed. McVey & Co. In­vest­ments plans to op­er­ate Spring Branch Med­i­cal Cen­ter through a new sub­sidiary, SBMC Health­care. McVey ex­pects to re­open with 50 in­pa­tient beds and then ex­pand to 200 beds next year, ac­cord­ing to the re­lease. The hos­pi­tal staffed for 160 beds when HCA shut down in­pa­tient ser­vices last year. Only 40 of the 509 full-time em­ploy­ees at the time re­mained at the fa­cil­ity, to man­age out­pa­tient pro­grams that have con­tin­ued to op­er­ate on the site. More than 100 physi­cians are in the cre­den­tial­ing process, and more are be­ing re­cruited, ac­cord­ing to the re­lease. McVey in­vests in en­ergy, health­care and real es­tate. The firm is pur­su­ing an­other hos­pi­tal ac­qui­si­tion in Hous­ton and hopes to com­plete the deal this year, said David Ar­pin, a con­sul­tant to McVey. Ar­pin said he could not name the hos­pi­tal be­cause of a nondis­clo­sure agree­ment.

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