Tomball (Texas) Regional Medical Center has officially been sold to a subsidiary of Franklin, Tenn.-based Community Health Systems, according to a joint news release.
Sale proceeds will go towards Tomball Hospital Authority’s outstanding financial obligations, and TRMC will convert to taxable status. The purchase agreement includes commitments from CHS to make capital investments of at least $50 million over five years to enhance clinical programs and improve facilities and medical technology.
CHS has also made a commitment to hire active employees in good standing in their same positions with recognition of pay rate and seniority. It has also committed to continuing the provision of charity care and the support of indigent care in the community.
Related Articles on Hospital Sales:
N.C.’s Person Memorial Hospital Officially Part of Duke LifePoint Healthcare
University Health Systems of Eastern Carolina Acquires Pungo District Hospital
HMA Closes Purchase of Tennessee’s Mercy Health Partners
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