Yet the Houston-based heart institute fired back the next month with a lawsuit against St. Luke's, asking to sever its affiliation and arguing that the six-hospital system deprived it of necessary funding.
According to St. Luke's annual report (PDF), the system contributed $5.3 million in 2012, and $4.4 million in 2011, in support of the heart institute's research and education programs.
With its own deal with CHI in place, the Texas Heart Institute is dropping its legal action. CHI, in turn, has pledged to inject $220 million in funding over the next decade into cardiovascular research and education.
The parties expect to have a deal in place by Dec. 1, they said in a news release. The transaction requires approval from regulators as well as the boards of trustees of both organizations.
The $220 million is made up of $50 million from the Episcopal Diocese of Texas, which finalized the transfer of St. Luke's to Englewood, Colo.-based CHI in May, and a $170 million commitment from CHI over the next 10 years.
Dr. Denton Cooley, who performed the first successful human heart transplant in the U.S., founded the Texas Heart Institute in 1962. Cooley was inducted this year into Modern Healthcare' Health Care Hall of Fame.
Follow Beth Kutscher on Twitter: @MHbkutscher
