Iasis Healthcare, Franklin, Tenn., has completed its acquisition of a 79% interest in St. Joseph Medical Center, Houston, with physician investors continuing to own the remaining share in the hospital, according to an Iasis news release.
Iasis completes Houston hospital deal
The purchase price was based on a valuation of the hospital at $165 million, according to the release. Hospital Partners of America, Charlotte, N.C., previously owned the majority stake in the hospital. HPA and some of its affiliates filed for bankruptcy in 2008, although none of its four hospitals filed for bankruptcy individually.
The deal gives Iasis five Texas hospitals among its 19 hospitals in seven states.
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