Community Health Systems, Franklin, Tenn., said that it has bought out its partner, Baptist Health System, Birmingham, Ala., in a joint venture set up in 2005 to operate 207-bed Trinity Medical Center. The joint venture was established by Triad Hospitals, Plano, Texas, which Community acquired in 2007. Community already owned 65% of the interest in the joint venture, and it purchased Baptist's 35% share for undisclosed terms effective June 30.
Since acquiring Triad, Community has unwound Triad's joint ventures with not-for-profit providers in Arkansas and Ohio; in both cases, Community sold its interests in those hospitals to its partners. Texas Health Resources, Irving, said last year that it intends to exercise its option to buy out Community's interest in 197-bed Presbyterian Hospital of Denton (Texas), but no agreement has been announced.
With the latest deal completed, Community owns, leases or operates 116 hospitals in 28 states. -- by Vince Galloro