A final agreement that includes a 25-year lease for one hospital and a one-year management contract for another has been reached between Hospital Partners of America, Charlotte, N.C., and Metrocrest Hospital Authority in Farmers Branch, Texas.
Metrocrest formally announced Feb. 25 that the talks to develop physician partnership arrangements, which had been going on for six months, had been terminated, but on March 4, Metrocrest told Modern Physician that parties were back at the negotiating table.
The long-term lease would be for 149-bed Trinity Medical Center, Carrollton, Texas, while the management agreement was for 118-bed RHD Memorial Medical Center, Dallas. On Aug. 30, 2007, however, it was announced that agreements on a 25-year lease for Trinity and a three-year management contract to operate RHD Memorial had been reached.
Despite the August announcement, Metrocrest President Charles Heath last month told Modern Physician that those deals were never consummated because an agreement could not be reached on the physician-partnership arrangements. Both Heath and a Hospital Partners spokeswoman said today that the physician partnerships and the lease are done deals. Its up and going strong; that kicked into effect at 12:01 Sunday morning, Heath said of the partnership agreement. All the documents have been signed. The deal is done. According to a Hospital Partners news release, the lease went into effect March 9 and involves more than 80 local physician investors. -- by Andis Robeznieks