Vanguard, Baptist ink deal
* Vanguard Health Systems, based in Nashville, last week announced a definitive agreement to purchase five-hospital Baptist Health System, San Antonio. The deal was announced in June. Under the agreement, Vanguard would pay a total of $295 million,including $247 million in cash and $48 million in Vanguard equity and subordinated debt. The deal is expected to close by year-end, pending approvals by the Baptist General Convention of Texas and federal and state authorities.
Community to buy Fla. facility
* Community Health Systems, Brentwood, Tenn., said this month it has executed a definitive agreement to purchase 154-bed Lake Wales (Fla.) Medical Centers from not-for-profit Winter Haven (Fla.) Hospital. Terms were not disclosed. Winter Haven and Lake Wales merged in 1997. Community Health said the sale, subject to regulatory approvals, is expected to close by year-end. Community Health operates 62 hospitals.
UT Bowld gets new manager
* Methodist Healthcare, Memphis, Tenn., will take over management of 104-bed University of Tennessee Bowld Hospital, Memphis, on Nov. 1. Methodist will have 10 hospitals once the transfer is complete. In March, the health system announced an affiliation agreement with the University of Tennessee Health Science Center and last month said it planned to sell seven rural hospitals to investor-owned Community Health Systems, Brentwood, Tenn., to focus on the partnership in Memphis. Sandra Bailey, a former hospital administrator within the Methodist system, will take over as administrator of UT Bowld.