Texas's Valley Baptist Health System, with locations in Harlingen and Brownsville, will soon merge with Nashville, Tenn.-based Vanguard Health Systems, according to a Brownsville Herald report.
As part of the merger, Vanguard will provide money for Valley Baptist to repay its debts. Although Valley Baptist will remain non-profit and tax-exempt, its two medical centers will become taxable, which will generate money for the cities and school districts.
The percentage of Vanguard's ownership is undetermined, a Vanguard spokesman said.
Read the Brownsville Herald report on Valley Baptist Health System.
Read more coverage on Vanguard Health Systems:
- Vanguard Doesn't Plan Major Change of Leadership for Detroit Medical Center
- Vanguard Health Systems' Revenues Up 14.3% on Net Loss of $4.2M
- Vanguard's Baptist Health System Acquires Heart and Vascular Institute of Texas
As part of the merger, Vanguard will provide money for Valley Baptist to repay its debts. Although Valley Baptist will remain non-profit and tax-exempt, its two medical centers will become taxable, which will generate money for the cities and school districts.
The percentage of Vanguard's ownership is undetermined, a Vanguard spokesman said.
Read the Brownsville Herald report on Valley Baptist Health System.
Read more coverage on Vanguard Health Systems:
- Vanguard Doesn't Plan Major Change of Leadership for Detroit Medical Center
- Vanguard Health Systems' Revenues Up 14.3% on Net Loss of $4.2M
- Vanguard's Baptist Health System Acquires Heart and Vascular Institute of Texas