|[January 02, 2013]
Baptist Community Services & Ardent Health Services Complete BSA Purchase
AMARILLO, Texas --(Business Wire)--
Baptist Community Services (BCS) of Amarillo, Texas, and Ardent
Health Services of Nashville, Tenn., have successfully completed the
purchase of BSA
The new joint venture of BCS and Ardent now owns the 445-bed BSA
Hospital, the Don & Sybil Harrington Cancer Center, a network of primary
care, urgent care, surgical and bariatric clinics and a preferred
provider network, as well as majority interests in Physicians Surgical
Hospitals, ADC (News - Alert) Endoscopy and Advanced Imaging Centers.
"This is absolutely the right ownership team to build on the excellence
of BSA and position it for the future," said Steve Dalrymple, president
and CEO of Baptist Community Services. "With millions of dollars in new
investment, synergies from Ardent's hospital systems nearby and our
current management team, physicians and employees, we will better serve
our patients and communities."
Ardent subsidiaries own and operate hospitals, health plans and
multi-specialty physician groups. Its healthcare operations serve Tulsa,
Okla. and surrounding communities and Albuquerque and Roswell, N.M.
"During this due diligence process, we learned a great deal more about
BSA and its physicians, nurses and employees," said David T. Vandewater,
president and CEO of Ardent Health Services. "We are even more impressed
about the quality of care, the customer service and the incredible
culture that exists today throughout BSA. We are honored to be a part of
the Amarillo community and this health system."
As part of the new joint venture, Ardent Health Services will:
Preserve the BSA mission, name and management team.
Invest $50 million dollars into two specific projects:
Constrution of a new expanded Emergency Room, and
Building a new, state-of-the-art cancer center that will replace
the Harrington Cancer Center.
Invest an additional $75 million into BSA over the next five years for
additional services, new equipment and technology.
Guarantee all employees are hired and that benefits and compensation
will remain essentially the same.
Endorse and support the current charity care policies of BSA and the
Harrington Cancer Center.
Continue the chaplaincy program which serves the spiritual needs of
BSA patients and families.
Retain current insurance and payer contracts, so employees in the
region whose insurance currently includes BSA as a preferred provider
will see no change.
A portion of the proceeds of the sale will go to create a $40 million
Harrington Cancer Foundation that will perpetuate the ability for the
Harrington Cancer Center to deliver state-of-the-art cancer care, to
provide a broad spectrum of support services, and to continue to take
care of patients regardless of their ability to pay.
Ardent subsidiaries will own 80 percent of the joint venture, and BCS
will own 20 percent. Ardent and BCS will each appoint half of the joint
venture governing board, which will ensure there will be substantial
local governance and representation.
The price and the financial terms of the agreement are not being
About Baptist Community Services
Baptist Community Services provides an array of high quality residential
and rehabilitation services for seniors in Amarillo and Lubbock,
anchored by Park Central Retirement Community and The Arbors skilled
nursing facility in Amarillo. In addition, Baptist Community Services
operates through an affiliate the Amarillo Town Clubs, exercise and
wellness facilities, and is affiliated with High Plains Christian
Ministries Foundation, which works in partnership with Christian
organizations to reach others for Christ in Amarillo and around the
world. Baptist Community Services (formerly High Plains Baptist Health
Systems) and High Plains Christian Ministries Foundation were initiated
in 1996 following the merger of High Plains Baptist Hospital and St.
About Baptist St. Anthony's Health System
Baptist St. Anthony's Health System (BSA) is a comprehensive healthcare
system located in Amarillo, Texas, serving the Texas Panhandle and
surrounding areas. BSA, the largest healthcare employer in the region,
includes a 445-bed hospital, The Don & Sybil Harrington Cancer
Center, a network of primary care, urgent care, surgical and bariatric
clinics and a preferred provider network, as well as majority interests
in Physicians Surgical Hospitals, ADC Endoscopy and Advanced Imaging
Centers. BSA is nationally acclaimed for its excellent quality,
service and advanced technology.
During the past year, Thomson (News - Alert) Reuters has named BSA to its list of 100
Top U.S. Hospitals and 50 Top Cardiovascular Hospitals. BSA has the
longest-tenured healthcare leadership team in the region.
About Ardent Health Services
Ardent Health Services invests in quality health care. In people,
technology, facilities and communities, Ardent makes considerable
investments - producing high quality care and extraordinary results.
Based in Nashville, Tenn., Ardent's subsidiaries own and operate acute
care health systems in three markets - Amarillo, Texas, Tulsa, Okla. and
Albuquerque, N.M. - that include 14 hospitals, two health plans, three
multi-specialty physician groups and 11 retail pharmacies.
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