Last year, Spring Branch Medical Center in Houston shut its doors — the second time in three years — but the hospital's owner now expects the facility will reopen at full capacity by the end of this year, according to a Houston Business Journal report.
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.
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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