As part of the merger, Vanguard will provide money for Valley Baptist to repay its debts. Although Valley Baptist will remain non-profit and tax-exempt, its two medical centers will become taxable, which will generate money for the cities and school districts.
The percentage of Vanguard’s ownership is undetermined, a Vanguard spokesman said.
Read the Brownsville Herald report on Valley Baptist Health System.
Read more coverage on Vanguard Health Systems:
– Vanguard Doesn’t Plan Major Change of Leadership for Detroit Medical Center
– Vanguard Health Systems’ Revenues Up 14.3% on Net Loss of $4.2M
– Vanguard’s Baptist Health System Acquires Heart and Vascular Institute of Texas
