DANVILLE, Va. -- LifePoint Hospitals, Brentwood, Tenn., signed a definitive agreement earlier in the month to buy 235-bed Danville Regional Medical Center for undisclosed terms. Danville Regional has annual revenue of about $180 million, making it LifePoint's largest single-hospital acquisition, the company said. The deal requires regulatory approvals, and LifePoint did not offer a timetable for closing the deal. LifePoint completed a $1.7 billion acquisition of Province Healthcare Co. last month and now owns or operates 50 hospitals. Buying Danville Regional would give LifePoint two Virginia hospitals.
HOUSTON -- For-profit Renaissance Healthcare Systems said earlier this month that it plans to open an acute-care hospital in the former Dallas Southwest Medical Center building, initially staffing 64 of 104 licensed beds. Patients will begin to be admitted June 10, said Michael Smesny, chief financial officer at Renaissance and president of its hospital division. Renaissance has spent $1.5 million on renovations and expects to spend $5 million on hospital equipment, Smesny said. He said the company expects to do better at the site than not-for-profit Southwest, which suffered from "poor management" and excessive costs. Renaissance also owns hospitals in Houston and Groves, Texas.
WEATHERFORD, Texas -- Parker County, Texas, voters defeated a proposal early this month for a $53.4 million hospital bond to expand and remodel 78-bed Campbell Health System. The vote was 80% against. The Parker County Hospital District board may try to get the initiative on a November ballot for a second vote, said Nancy Cooke, chief financial offer of the public hospital. It is operated by Quorum Health Resources, a Triad Hospitals subsidiary. The bond would have been used to build a new patient tower, convert semiprivate rooms to private rooms and triple the size of the emergency room, among other capital projects. The hospital district board studied the expansion for two years before voting to put the bond proposal on a ballot. "We just need to be more diligent in getting out our message," Cooke said. The hospital earned net income of $385,000 on revenue of $90 million in 2004.