Expansion continues as Dallas-based Catholic health system takes controlling stake in Hopkins County Memorial Hospital.
CHRISTUS Health will own a controlling stake in Hopkins County Memorial Hospital, a 96-bed general surgical hospital in Sulphur Springs, TX in a deal that could be finalized by July 1.
The agreement announced jointly with the Hopkins County Hospital District puts hospital operations under a new organization called CHRISTUS Hopkins Health Alliance. CHRISTUS Health will own 51% of CHHA and Hopkins will own 49%.
Financial terms of the acquisition were not disclosed.
The hospital's name will change to CHRISTUS Mother Frances Hospital-Sulphur Springs and the clinics will change to CHRISTUS Trinity Clinic-Sulphur Springs and CHRISTUS Trinity Clinic-Emory.
Hopkins Memorial CEO Michael McAndrew said the hospital district has invested more than $36 million in capital improvements and expansion of services over the past decade that include a medical office building, an acute rehab unit, a wound care center, and enhanced specialty surgical and cardiac services.
"Even with all of these wonderful things, we knew that if we didn't find a strong partner we would not be able to continue our mission," McAndrew said in prepared remarks.
"After a lengthy process the Board has signed a joint venture agreement with CHRISTUS Health. It will be an exciting new beginning, rich with promise. It will ensure our viability, irrespective of the monumental changes in healthcare, for generations to come."
Hopkins Board Chair Tim Kelty said an affiliation with a larger provider was needed because the healthcare landscape is shifting toward population health and value-based care and "rural healthcare organizations need a partner in order to continue to meet the healthcare needs of their community."
CHRISTUS Health CEO and President Ernie Sadau noted that the venture with Hopkins comes weeks after plans were announced for the creation of CHRISTUS Trinity Mother Frances Health System in Tyler.
"Our mission for the last 150 years has been to extend the healing ministry of Jesus Christ, and with the finalization of this agreement, we are continuing to build upon and strengthen our mission for years to come," Sadau said.
CHRISTUS Health, a Catholic, faith-based, not-for-profit health system, is headquartered in Dallas and includes more than 50 hospitals and long-term care facilities, 175 clinics and outpatient centers and other health ministries and ventures in Texas, Arkansas, Iowa, Louisiana, New Mexico, Georgia, Mexico, and Chile. The system has 35,000 employees and nearly 14,000 physicians on staff.