Nueces County Hospital District Approves Merger With Christus Spohn Health System
The Nueces County Hospital District in Corpus Christi, Texas, has approved an agreement to become part of Christus Spohn Health System in Corpus Christi, according to a Corpus Christi Caller report.
Under the agreement, the hospital district would provide Christus Spohn with unlimited access to and use of its facilities in Corpus Christi, such as Memorial Hospital, three primary clinics and some office space, which Christus Spohn is currently leasing. In return, Christus Spohn would provide the district with some of its net revenue, which could be as much as $66 million in the coming fiscal year, according to the report.
Nueces County Hospital District approved the agreement to end its financial woes, according to the report. The hospital district has struggled to continue providing care for indigent patients ever since its tax rate was cut a few years ago. The district had projected it could be bankrupt by 2015 if its expenses continued to outpace revenues, according to the report.
The Nueces County commissioners must ratify the deal before it can move forward. They are expected to discuss the agreement Sept. 5, according to the report.
More Articles on Hospital Mergers:38 Statistics on Hospital M&A Deals
St. Joseph's Regional Medical Center Will Not Align With Ascension Health Care Network
Verdugo Hills Hospital Enters Merger Talks With USC's Keck Medical Center
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.