Christus Health to acquire Trinity Mother Frances
Christus Health will acquire Trinity Mother Frances Hospitals and Clinics, a three-hospital system based in Tyler, Texas.
Irving, Texas-based Christus plans to add all of Trinity Mother Frances’ acute-care hospitals to its 30-hospital system under the deal, as well as Trinity Clinic and Trinity Mother Frances’ heart hospital. Christus ended its most recent fiscal year on June 30, 2015, with an operating surplus of $55.8 million on revenue of $3.61 billion.
The deal “will create a combined platform that we believe will provide significant growth opportunities and healthcare options,” Christus CEO Ernie Sadau said in a news release announcing the deal. Combined operations could boost access and “offer us more opportunities to pursue new models of healthcare delivery that depend on a strong geographic presence,” he said.
The prospective partners have signed a letter of intent. Should the deal close, Trinity Mother Frances will add four members to Christus’ board, including a trustee from the Sisters of the Holy Family of Nazareth. That Catholic order will become a third sponsoring congregation of Christus Health under the agreement.