Irving, Texas-based Christus Health signed a letter of intent to buy Hopkins County Hospital District's stake in a joint venture for $27 million, according to KSST Radio.
The joint venture, Christus Hopkins Health Alliance, was formed in 2016. It was made to jointly manage and operate what is now called Christus Mother Frances Hospital in Sulphur Springs, Texas, and its affiliated clinics.
When the joint venture was formed, Christus had a 51 percent stake in it, while Hopkins County Hospital District had a 49 percent stake.
Now, Christus is looking to acquire the district's minority stake to be the sole operator of the hospital.
Under the deal, the district would retain ownership of the real estate and facilities and lease the buildings to Christus.
Money from the sale would be used to eliminate the hospital district's bond debt.