Private equity firm McVey & Co. Investments has completed its acquisition of Spring Branch Medical Center in Houston, which HCA closed in May of last year following large financial losses, according to a Houston Chronicle report.
McVey & Co. plans to reopen the hospital's inpatient operations this spring. HCA kept its outpatient oncology, imaging and emergency services open.
The terms of the deal were not disclosed, but Marty McVey, president of the private equity firm said the firm paid "much more" than a rumored $10 million, according to the report.
The firm says it has commitments from more than 100 physicians to return to the hospital.
Read the Houston Chronicle report on Spring Branch Medical Center.
Read previous coverage on Spring Branch Medical Center:
- HCA Closing Houston's Spring Branch Medical Center
McVey & Co. plans to reopen the hospital's inpatient operations this spring. HCA kept its outpatient oncology, imaging and emergency services open.
The terms of the deal were not disclosed, but Marty McVey, president of the private equity firm said the firm paid "much more" than a rumored $10 million, according to the report.
The firm says it has commitments from more than 100 physicians to return to the hospital.
Read the Houston Chronicle report on Spring Branch Medical Center.
Read previous coverage on Spring Branch Medical Center:
- HCA Closing Houston's Spring Branch Medical Center