Messengers, or delegates, to the annual meeting of the Baptist General Convention of Texas voted to approve the sale of five-hospital Baptist Health System, San Antonio, to investor-owned Vanguard Health Systems, Nashville, in a deal worth $295 million. Vanguard will pay $247 million in cash and $48 million in convertible debt and stock securities under the definitive agreement the parties reached in October. Vanguard said it expects to close the deal by year-end. -- by Vince Galloro
Baptist convention approves sale to Vanguard
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