Community Health Systems, Nashville, said it completed its acquisition of Tomball (Texas) Regional Medical Center, a 272-bed hospital about 30 miles northwest of Houston.
CHS completes acquisition of Texas hospital
Terms were not disclosed for the deal, which closed Oct. 1, according to a news release from the Nashville-based hospital chain. Tomball Regional has said the purchase price would be sufficient to retire all of the debt of the Tomball Hospital Authority. The authority’s long-term debt was about $119 million as of June 30, according to a financial report issued to bondholders. The hospital reported a loss of $3.7 million on revenue of $189.8 million for the first six months of 2011.
Community also committed to a $50 million capital investment to expand clinical service lines and renovate the facilities, according to a news release the Tomball Regional issued in August. The Tomball campus, in addition to the hospital, includes cancer, heart and outpatient surgery centers, as well as a sports medicine complex.
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