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North Texas Medical Center enters lease agreement

North Texas Medical Center, a 60-bed hospital in Gainesville, will be leased to and operated by an organization newly created by Plano, Texas-based Community Hospital Corp.

North Texas Medical Center, which is owned by the Gainesville Hospital District, began looking for a new management company in early 2018 after King of Prussia, Pa.-based Universal Health Services canceled its management agreement with the hospital.

The hospital entered a five-year management agreement with Community Hospital Consulting, the management and consulting arm of Community Hospital Corp., effective May 1.

Through a joint arrangement between Community Hospital Corp. and the Gainesville Hospital District, a new CHC organization will begin operating and leasing North Texas Medical Center on Dec. 1.

More articles on healthcare industry transactions:

South Carolina health system OKs acquisition of 4 hospitals from CHS
California DOJ approves CHI-Dignity merger, with conditions
LifePoint merges with RCCH, goes private

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