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Shuttered Texas hospital strikes lease deal

University of Texas Medical Branch at Galveston has entered into a letter of intent to lease Bay Area Regional Medical Center in Webster, Texas, which closed in May.

"This is a unique opportunity for UTMB Health to advance our mission of education, research and patient care," said David L. Callender, MD, president of the university, in a statement to the Houston Chronicle. "The Webster location will complement our existing facilities on our League City Campus and in surrounding areas, as well as our future plans for education and research activities in the Bay Area."

UTMB has not released official plans for how the property will be used, according to the report.

More articles on healthcare industry transactions:

Rite Aid, Albertsons call off $24B merger
For-profit hospital chain closes $78M deal for Washington health system
University of Kansas Health System acquires competing hospital

Editor's note: This article was updated Aug. 14 to reflect Bay Area Regional Medical Center is located in Texas. The article previously said the hospital was in California. We apologize for this error. 

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