Dallas-based Baylor Scott & White Health has acquired Lakeway (Texas) Regional Medical Center, a 106-bed hospital.
The purchase will expand Baylor Scott's services farther into central Texas. The not-for-profit system operates 46 hospitals.
Terms of the agreement, including finances, were not disclosed.
Lakeway, an investor-owned hospital, provides emergency medicine, neurosurgery, orthopedics, cardiology and general surgery services. The facility employs 450 people, according to a news release.
When the deal closes in a few months, the hospital will be renamed Baylor Scott & White Medical Center—Lakeway. It joins a network of three Baylor hospitals in central Texas.
Baylor plans to make investments in the Lakeway facility, including upgrades to medical equipment.
The growing Baylor system reported $7.4 billion in total revenue in 2015. That is a more than a $2 billion increase from 2014.