South Texas Health System in McAllen, part of King of Prussia, Pa.-based Universal Health Services, reached an agreement to acquire Knapp Medical Center, Weslaco, Texas.
South Texas Health to acquire Knapp Medical Center
Knapp, a 202-bed facility, opened in 1961. Financial terms of the deal weren't revealed. The announcement comes after a year of protests, with community members objecting to the actions of Knapp CEO Jim Summersett.
“This partnership is going to have a positive impact on the Rio Grande Valley's access to comprehensive, quality healthcare,” said Douglas Matney, regional vice president of Universal Health Services, in a media release.
South Texas Health includes more than 600 doctors at four acute-care facilities: 817-bed Edinburg (Texas) Regional Medical Center, Edinburg Children's Hospital, 635-bed McAllen Medical Center and McAllen Heart Hospital. Last year, Knapp, a tax-exempt hospital, signed a memo of understanding with Valley Baptist Health System, Harlingen, Texas. That expired without a deal.
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