Hospital Partners of America, Charlotte, N.C., agreed to purchase a majority stake in 10-bed Monroe (La.) Surgical Hospital for undisclosed terms, with plans to expand the facility significantly into a full-service hospital. The physician owners will retain a stake in the hospital, and other physicians will be recruited to buy in as partners, HPA said. The expansion plans include 60 medical-surgical beds, a 10-bed obstetrics unit, an emergency department, other new services and an adjacent medical office building. If the deal closes, expected in the fourth quarter, HPA will own four hospitals, including the former Redding (Calif.) Medical Center, now known as Shasta Regional Medical Center. The 3-year-old company bought Redding from Tenet Healthcare Corp., which agreed to divest the hospital after allegations that physicians performed unnecessary procedures there. -- by Vince Galloro
HPA announces agreement to buy fourth hospital
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