Memorial Hermann Health System, a 16-hospital system in Houston, entered into a joint venture agreement with The Woodland, Texas-based Emerus Holdings, one the nation's largest microhospital operators.
Under the agreement, Emerus and MHHS will develop a joint venture, which will include Emerus' facilities in Tomball and Sugarland, Texas. Both facilities will also rebrand and operate under the MHHS name. Additional facilities may also be added in the future.
Each facility in the joint venture will be staffed by board-certified physicians, nurses and clinical specialists from MHHS.
The financial terms of the transaction were not disclosed.
The deal is subject to regulatory approval. Officials expect to close the transaction in summer 2017.
"Emerus and Memorial Hermann share a common goal to provide innovative, high quality, patient-centered care to those who need it most," said David Bradshaw, executive vice president and chief strategy officer of MHHS. "We're excited to join Emerus in this new care delivery venture that will help us continue to improve our community's access to that care by offering convenient locations throughout the city that are easy to get to, no matter where you live."