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Financially troubled SRMC owner puts yet another hospital on the auction block

Historic St. Joseph hospital in downtown Houston is on the block. Hospital Partners of America, the Charlotte, N.C.-based company that bought the facility less than two years ago (and which owns/operates Shasta Regional Medical Center), has retained Merrill Lynch to shop it around. More here.

HPA unexpectedly shut down its other Houston hospital last week. More here.

A group of physician investors protested that hospital's sudden closing and have been meeting to consider their legal options. More here.

1 comment:

  1. Thanks for the update.

    When I read of HPA, I presumed that they were a pretty big operation - but according to info at finance.yahoo.com, they really only had three hospitals under their control, the one they shut down, and the two that are for sale (with our hospital much the smallest at 250 beds). I was a little put off by their firm's description there too:

    "Some doctors may make lots of money, but they're not rich enough to buy their own hospitals. That's where Hospital Partners of America (HPA) steps in. The firm partners with doctors to run for-profit acute care facilities, with HPA typically retaining a controlling interest in the partnership. HPA and local docs have "rehabilitated" a handful of locations in Texas and California. It owns two hospitals in Houston: Twelve Oaks Medical Center with about 525 beds and St. Joseph Medical Center with nearly 800."

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