Christus Health, an Irving, Texas-based not-for-profit health system, announced that it plans to enter into a joint venture with Pontificia Universidad Católica de Chile.
The memorandum of understanding provides for “the ownership, operation and expansion of PUC's health network” as Christus supplies a local executive team, including CEO, COO and CFO.
“We believe that the partnership we create in Chile and our experience in Mexico will allow us to meet deep health care needs and will also help us diversify our operations, strengthen Catholic health care around the world and help Christus lead the development of new, international health care models,” Ernie Sadau, president and CEO of Christus Health, said in a news release
Though a definitive agreement regarding details of the operations has not been reached, a final deal is expected within the next three to six months. It is anticipated that Christus will own a 40% stake in the venture.
PUC is a Chilean university owned by the Catholic Church. Its health system is one of the largest in Chile, including two hospitals, 11 outpatient centers and a laboratory and imaging services network.
Christus Health comprises more than 60 hospitals and long-term care facilities, as well as 175 clinics and outpatient centers. The Catholic health system is also in 60 cities and has had an international presence since 2001, operating a similar joint venture with a seven-hospital system in Mexico.