Christus Health Signs Memorandum of Understanding With Chilean University

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Irving, Texas-based CHRISTUS Health announced it has signed a memorandum of understanding with Pontificia Universidad Católica de Chile, a Chilean university in Santiago, to form a joint venture for the ownership, operation and expansion of PUC's health network.

The PUC Health Network includes two hospital campuses, 11 outpatient centers and a large laboratory and imaging services network. Christus Health and PUC plan for Christus to hold a 40 percent share of the joint venture under the final agreement. They plan to complete due diligence and negotiations toward a definitive joint venture partnership agreement in the next three to six months, according to the news release.

The two parties also signed an interim management agreement, which will be in effect until the transaction is complete, according to the news release. Under the interim management agreement, Christus is providing a local CEO, COO and CFO and is appointing members of a transition committee that will include both Christus and PUC leaders.

Christus named Joseph Barcie, MD, senior vice president of international services of Christus, as interim CEO of the management team; Alejandro Canavati, CFO of Christus Muguerza — a joint venture in Mexico — as COO of the management team; and Sergio L. Melgar, as CFO.

More Articles on Christus Health:

Christus Health Pursues Negotiations for Joint Venture With Health System in Chile
Christus St. Vincent in New Mexico May Launch Health Plan

CEO Ernie Sadau: Leading the Healing Ministry of Christus Health

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