Franklin, Tenn.-based Iasis Healthcare will purchase a 78.2 percent interest in St. Joseph Medical Center in Houston, according to a news release.
The purchase price will be based on an enterprise value of $165 million and is subject to closing adjustments. A group of independent investors will retain 21.8 percent ownership interest.
The current majority owner sold its interest in the hospital as part of its Chapter 7 bankruptcy process.
Read the release on Iasis Healthcare and St. Joseph Medical Center (pdf).
Read more coverage on Iasis Healthcare:
- IASIS Revenue Up 7%, Earnings Down 13.5%
- Tennessee's IASIS Healthcare Names COO
- Tennessee's IASIS Healthcare Acquires Brim Holdings
The purchase price will be based on an enterprise value of $165 million and is subject to closing adjustments. A group of independent investors will retain 21.8 percent ownership interest.
The current majority owner sold its interest in the hospital as part of its Chapter 7 bankruptcy process.
Read the release on Iasis Healthcare and St. Joseph Medical Center (pdf).
Read more coverage on Iasis Healthcare:
- IASIS Revenue Up 7%, Earnings Down 13.5%
- Tennessee's IASIS Healthcare Names COO
- Tennessee's IASIS Healthcare Acquires Brim Holdings