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Baptist Community Services, Ardent Health Services Create Joint Venture

Amarillo, Texas-based Baptist Community Services and Ardent Health Services in Nashville, Tenn., have formed (pdf) a joint venture to own and operate Baptist St. Anthony's Health System in Amarillo.

The joint venture will include BSA's 445-bed hospital; the Don & Sybil Harrington Cancer Center; a network of primary care, urgent care and surgical care and bariatric clinics; a preferred provider network; and BSA's partnership interests in Physicians Surgical Hospitals, ADC Endoscopy and Advanced Imaging Center.

Under the proposed deal, Ardent would own 80 percent of the joint venture and Baptist Community would own 20 percent. Ardent and Baptist Community will each appoint half of the joint venture governing board.

As part of the new joint venture, Ardent Health has made a few commitments, which include the following:

• Preserve the BSA mission and its name, as well as the names of its affiliates.
• Invest $50 million in two specific projects — the construction of a new, expanded emergency room and a new cancer clinical facility.
• Invest $75 million in BSA over the next five years for additional services, new equipment and technology to improve the health system.
• Guarantee all employees are hired upon the completion of the sale, and that benefits and compensation will remain the same.
• Endorse and support BSA's current charity care policies.
• Continue the chaplaincy program.
• Keep current insurance and payor contracts.

The formal transition of ownership will be completed by the end of the year, contingent on approval from government agencies.

More Articles on Hospital Joint Ventures:

St. Vincent Health, Community Health Network & Six Hospitals to Form ACC in Joint Venture
Joint Ventures: Can Your ASC Thrive With an Aggressive Hospital?
5 Considerations for Operating Agreements With ASCs and Hospitals Pursuing Joint Ventures

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