Texas Health Resources, Arlington, has formed a joint venture with Adventist Health System to take over ownership of Huguley Memorial Medical Center, Burelson, Texas.
Huguley has been a member of Adventist since 1977, and the Altamonte Springs, Fla., hospital operator will continue to manage daily operations, according to a news release
. Texas Health will have a controlling interest in the joint venture.
Terms of the deal, which is effective May 1, were not disclosed.
Texas Health noted that the agreement allows it to expand its operations south and east—into an area experiencing faster-than-average population growth.
“This agreement allows our two organizations to better serve the people of south Tarrant County, Johnson County and Ellis County,” said Doug Hawthorne, CEO of Texas Health, in the release. “Both Texas Health and Adventist Health System have strong foundations as faith-based, non-profit health systems that are dedicated to improving health in the communities we serve. Given today's challenging healthcare environment, it makes sense for us to look for opportunities to collaborate with other health systems to improve the health of our communities.”
Texas Health also said it is building a health information exchange to connect with Adventist's records system.