A group of 21 physicians earlier this month signed an agreement to operate 65-bed Bellwood General Hospital in Bellflower, Calif., which is owned by Houston-based Paracelsus Healthcare Corp.
The physicians who have taken over operations of Bellwood have practiced at the hospital "for many years," a hospital statement said.
The physicians have assumed operations of Bellwood from Paracelsus under a four-year management contract. No other terms of the transaction were disclosed. No immediate changes are planned at the hospital.
In the wake of heavy losses last year, Paracelsus annouced it would sell most of its hospitals in California, where the company was based before it merged with Houston-based Champion Healthcare Corp. and moved its headquarters to Texas.