The partnership will involve $220 million in funding over 10 years for cardiovascular disease education and research. CHI and THI — which is affiliated with Houston-based St. Luke’s Health System — have entered a period of exclusive negotiations concerning the terms of the partnership and expect to have an agreement finalized Dec. 1, according to a news release.
In May, CHI completed the acquisition of St. Luke’s Health System, formerly St. Luke’s Episcopal Health System. At the same time, THI filed a suit to have its contract with St. Luke’s declared “nonbinding and unenforceable,” alleging funding cuts from the health system hindered the institute’s ability to fulfill its mission. As part of signing the letter of intent with CHI, the institute has dismissed its lawsuit against St. Luke’s, according to the release.
Under the partnership agreement, the Episcopal Diocese of Texas — St. Luke’s former owner — will give CHI $50 million for research and education at THI. On top of that, CHI will invest more than $170 million in research and education at the institute during the next decade, according to the release.
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