Jim Field, an Austin, Texas, developer, said he and a business partner have purchased the shuttered, 24-bed Renaissance Women's Center in Austin and will reopen it as a surgical hospital offering a full range of neurological and orthopedic services. Universal Health Services closed the unprofitable hospital in February 2001 after less than four years of operation and at the same time abandoned plans to create a chain of specialty women's hospitals. Field declined to disclose the purchase price, but the hospital was listed on the market at $15 million. He said the hospital will be managed by Ortho-Neuro, Charlotte, N.C., whose principals are former and current MedCath Corp. executives.
Meanwhile, Titan Health Corp., Sacramento, Calif., a surgery center chain founded in 1999, is preparing to open its fourth center, this one in Portland, Ore., in early 2003. The company, backed by $5.1 million in venture capital funding, operates and has an equity stake in three surgery centers, one each in Sacramento, Salem, Ore., and Eugene, Ore. At least initially, Titan Health is targeting the niche market of spinal diagnostics and pain management. An attorney who works with Titan, Chris Russell of Morrison & Foerster, Sacramento, said the company is in talks to open additional West Coast centers with several other providers and physician groups. -- by Julie Piotrowski