Texas Health Resources, the largest healthcare system in North Texas in terms of patients served, and LHP Hospital Group, have formed a joint venture to acquire 241-bed Wilson N. Jones Medical Center in Sherman, Texas, according to an LHP release.
Wilson N. Jones will change its named to Texas Health Presbyterian Hospital-WNJ, and Texas Health will own a majority equity interest in the joint venture that owns the facility. LHP will manage the operation of the hospital. Texas Health and LHP will share governance of the joint venture, which will invest $25 million in capital improvements in the facility over the next four years.
The partnership is expected to enhance and expand the services the hospital currently provides. "The journey to this partnership has been a long one but it has brought us to a new day for healthcare for the communities Wilson N. Jones has served for over 96 years. Throughout this process, the dedication of WNJ's employees, physicians, volunteers, and board members and the support of our new partners, Texas Health and LHP, have been exceptional. The process has reinforced our commitment to quality and compassionate care that WNJ has been known for," Gail Utter, chair of the WNJ board of directors, said in the release. "The name may have changed, but the mission of improving health has not."
Dan Moen, LHP CEO, said in the release, "LHP is honored to partner with Texas Health Resources, one of the largest faith-based, nonprofit healthcare systems in the United States. Together, we are committed to continuing the quality care WNJ has delivered for almost 100 years. We will bring the very best resources of both LHP and Texas Health together to create a collaborative hospital environment that includes physicians, employees and the community."
Learn more about LHP Hospital Group.
Wilson N. Jones will change its named to Texas Health Presbyterian Hospital-WNJ, and Texas Health will own a majority equity interest in the joint venture that owns the facility. LHP will manage the operation of the hospital. Texas Health and LHP will share governance of the joint venture, which will invest $25 million in capital improvements in the facility over the next four years.
The partnership is expected to enhance and expand the services the hospital currently provides. "The journey to this partnership has been a long one but it has brought us to a new day for healthcare for the communities Wilson N. Jones has served for over 96 years. Throughout this process, the dedication of WNJ's employees, physicians, volunteers, and board members and the support of our new partners, Texas Health and LHP, have been exceptional. The process has reinforced our commitment to quality and compassionate care that WNJ has been known for," Gail Utter, chair of the WNJ board of directors, said in the release. "The name may have changed, but the mission of improving health has not."
Dan Moen, LHP CEO, said in the release, "LHP is honored to partner with Texas Health Resources, one of the largest faith-based, nonprofit healthcare systems in the United States. Together, we are committed to continuing the quality care WNJ has delivered for almost 100 years. We will bring the very best resources of both LHP and Texas Health together to create a collaborative hospital environment that includes physicians, employees and the community."
Learn more about LHP Hospital Group.