University General Health System in Houston has executed an agreement to purchase South Hampton Community Hospital in Dallas, effective Dec. 31.
University General agreed to acquire South Hampton's facilities and operations for $30 million. This includes the 111-bed acute-care facility that supports care in specialty services such as bariatric, intensive care, diagnostic imaging, pain management, orthopedic, physical and respiratory therapy and wound care as well as an affiliated 22,000-square-foot medical office building that is approximately 55 percent occupied. According to the release, Houston National Bank is expected to finance $28.5 million of the purchase price.
The hospital will be renamed and re-branded in early 2013 as University General Hospital-Dallas. According to the release, University General will fund at least $1 million in capital investments and will supply working capital to ensure the hospital can provide "first-class concierge healthcare service in a five-star environment."
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University General agreed to acquire South Hampton's facilities and operations for $30 million. This includes the 111-bed acute-care facility that supports care in specialty services such as bariatric, intensive care, diagnostic imaging, pain management, orthopedic, physical and respiratory therapy and wound care as well as an affiliated 22,000-square-foot medical office building that is approximately 55 percent occupied. According to the release, Houston National Bank is expected to finance $28.5 million of the purchase price.
The hospital will be renamed and re-branded in early 2013 as University General Hospital-Dallas. According to the release, University General will fund at least $1 million in capital investments and will supply working capital to ensure the hospital can provide "first-class concierge healthcare service in a five-star environment."
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