Here are five key notes:
1. University General Hospital, located near Texas Medical Center, is bankrupt. The hospital’s parent company, General Health System, also operates two ambulatory surgery centers, a hyperbaric wound care center and several senior citizen centers.
2. Foundation HealthCare acquired the 69-bed acute care hospital for $33 million.
3. The deal is expected to close Dec. 31, 2015.
4. Foundation HealthCare manages seven ASCs and one surgical hospital in the Houston area.
5. UGH CEO Hassan Chahadeh said UGH and Foundation HealthCare share a similar vision of physician-owned hospitals and providing cost-effective healthcare in a personalized manner to physicians, patients and employees.
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At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.