Signature Hospital Corporation Selects Nueterra Healthcare to Purchase Pampa Regional Medical Center

Signature Hospital Corporation, along with Nueterra Healthcare and Progressive Acute Care, announced they have signed a Letter of Intent for the sale of Signature’s Pampa Regional Medical Center in Pampa, Texas.
By: Brian Levinson
 
Nov. 21, 2011 - PRLog -- Houston, Texas – Today, Signature Hospital Corporation, along with Nueterra Healthcare and Progressive Acute Care, announced they have signed a Letter of Intent (LOI) for the sale of Signature’s Pampa Regional Medical Center in Pampa, Texas.

This decision initiates exclusive negotiations with Nueterra Healthcare and Progressive Acute Care for the purchase of the hospital. The transaction is expected to close in the first quarter of 2012, and provides a framework for the formal process of transferring ownership of Pampa Regional to Kansas-based Nueterra Healthcare and Louisiana-based Progressive Acute Care.

This agreement follows a thorough and deliberate 10-month search by Signature Hospital Corporation that will ensure the long-term vitality of Pampa Regional Medical Center, further strengthen its quality of care and ensure that the Pampa community has access to healthcare close to home.

“We are excited to have found high-caliber partners like Nueterra and Progressive, who will continue this hospital’s mission of providing excellent local healthcare,” said Signature Hospital Corp. CFO Steve Peterson. “Both companies have had tremendous success in partnering with community hospitals, physicians and medical staff to form strong, local partnerships in the communities they serve.”

“Nueterra’s mission is to provide the resources needed to help community hospitals strengthen themselves for the future in today’s changing healthcare environment” said Nueterra Healthcare CEO David Ayers. “Pampa Regional is an exceptional hospital that, like many across the country, has been affected by industry and economic uncertainty. Over the next few months Progressive and Nueterra will work with Pampa Regional’s leadership and medical staff to develop a plan that will strengthen local healthcare.”

Progressive CEO Dan Rissing echoed these statements, saying, “We recognize the importance of Pampa Regional to the Pampa community, and we want to build on the foundation that has been formed by the invaluable physicians and staff. Over the next few months, Nueterra and Progressive will work with Pampa Regional leadership to reach an agreement that’s in the best interest of this community and hospital. We look forward to getting to know the Pampa community.”

About Signature
Based in Houston, Texas, Signature Hospital Corporation is a privately held company dedicated to providing affordable, state-of-the-art medical services to communities. Presently, Signature owns and operates 115-licensed bed Pampa Regional Medical Center in Pampa, Texas and 161-licensed bed Gulf Coast Medical Center in Wharton, Texas.

Signature was founded in 2005 as a privately held company, receiving financial backing from funds managed by Goldman Sachs, a global investment banking and securities firm. For more information on Signature, please visit www.signaturehospital.com.

About Nueterra Healthcare
Nueterra Healthcare creates long-term partnerships with health systems, hospitals and physicians to develop innovative strategies to improve the delivery of health care services while growing market share. The company is one of the country’s leading developers and managers of health system or physician-owned surgical facilities and community hospitals, and now provides international opportunities for its partners through Nueterra International. For more information, visit www.nueterrahealthcare.com.

About Progressive Acute Care
Progressive Acute Care, LLC is a Louisiana-based health system that provides a full continuum of high-quality, compassionate, community-focused healthcare services through its associates, physicians and volunteers in a fiscally responsible manner. The company believes the best way to satisfy any community’s healthcare needs is by engaging and empowering local physicians, community and business leaders to help collectively drive the vision and direction of its healthcare facilities. For more information, please visit www.progressiveacute.com.
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Source:Brian Levinson
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Tags:Nueterra, Nueterra Healthcare, Health Care, Health-systems, Hospital
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