In 2011, McVey & Co. Investments, a Houston-based private equity firm, bought Spring Branch Medical Center from Houston-based HCA Gulf Coast, a subsidiary of Nashville, Tenn.-based Hospital Corporation of America. However, financial troubles resurfaced last year, forcing the hospital to file for bankruptcy and eventually close, laying off 87 employees in the process.
However, McVey & Co. President Marty McVey told the Houston Business Journal the firm will invest about $80 million into the hospital and bring in a hospital operator to run the facility. He did not name the operator. Spring Branch Medical Center will initially open with 50 beds and graduate to 200 beds by next year.
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