CORPUS CHRISTI, Texas-Spohn Health System has finalized its lease transactions with Bee County Regional Medical Center in Beeville, Texas, and Memorial Medical Center, Corpus Christi. In both deals, Spohn outbid Columbia/HCA Healthcare Corp. of Nashville, Tenn. (Aug. 12, p. 36). Terms of the deals, finalized Sept. 30, call for Spohn to pay $65 million for a 30-year lease of Memorial and $8.8 million for a 30-year lease of Bee County Regional. Spohn is a subsidiary of Incarnate Word Health Services of San Antonio.
COLORADO SPRINGS, Colo.-The physician network affiliated with city-owned Memorial Hospital has acquired a medical clinic for $1.3 million. Physician Network of Colorado Springs purchased Peak Medical Clinic Sept. 20. The deal was the second sale of the medical practice in two years. The clinic's doctors had re-acquired the practice in January, ending a 15-month merger with Burlingame, Calif.-based Vivra. "This seemed to be the best opportunity for us," Bhaktasharan Patel, former managing partner of Peak Medical Clinic, said of the latest sale. "They have many managed-care contracts." Physician Network is owned by its 400 member doctors and is one of the city's largest medical practices. Three clinic doctors will become employees of Physician Network, and five medical specialists have signed agreements to join the group.