St. David's HealthCare Finalizes $83.8M HHA Purchase
St. David's HealthCare on Monday finalized its $83.8 million purchase of Heart Hospital of Austin.
"St. David's HealthCare has completed the necessary steps required to move forward with its purchase of Heart Hospital of Austin," Jon M. Foster, president/CEO of St. David's, said in a media release. "Heart Hospital of Austin has demonstrated that it is one of the top providers of cardiovascular care in the state and nation, and we believe this is a logical extension of St. David's HealthCare's long-standing tradition of excellence in this field."
HHA's cardiac services and includes a 24-hour full-service emergency center. HHA President/CEO David Laird, called the acquisition by St. David's "a perfect fit for our organization."
St. David's purchased the 58-bed HHA from MedCath Corp.—the former manager and majority owner based in Charlotte, NC—for $83.8 million. HHA will maintain its current leadership, including Laird, but its staff of about 400 medical, technical and support workers will become employees of St. David's.
Six-hospital St. David's is one of the largest health systems in Texas, and is the fifth-largest private employer in Austin with more than 6,700 employees.
John Commins is a senior editor with HealthLeaders Media.
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