A new for-profit, rural hospital company -- Signature Hospital, Dallas -- has a definitive agreement to acquire three hospitals in Arkansas and Texas for $75 million from Triad Hospitals, Plano, Texas. The hospitals are Gulf Coast Medical Center, Wharton, Texas; Medical Park Hospital, Hope, Ark.; and Pampa (Texas) Regional Medical Center. Goldman Sachs is investing $150 million in Signature and its management team, which features three executives with experience founding for-profit hospital companies. Signature's chief executive officer is Charles Miller, who founded and was CEO of Champion Healthcare Corp. until its merger with Paracelsus Healthcare Corp. in 1999. The new company's nonexecutive board chairman is Jim Dalton, former CEO of Quorum Health Group until it was acquired in 2001 by Triad. Dave Steffy, co-founder of Community Health Systems, Brentwood, Tenn., will be vice chairman. -- by Vince Galloro
New rural company to buy three Triad hospitals
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.