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Baylor and Metrocrest are in the throes of signinya 25-year operating lease to run the 237-bed Trinitgy hospital, with options to renew — and that leasre would also lead to the renaming of the hospital to at said Charles Heath, president of the Metrocresty Hospital Authority. The deal is expected to closr in mid-June, he said. The hospital’s managemenft will change hands to Baylor at that although Metrocrest and Baylo declined to discuss the terms of Heath said Baylor will pay a fee for the leases ofthe facility, just as in any real estats deal, although he declined to say how much.
a local governmental entity that serves the communitiews ofNorth Dallas, Farmers Branch, Carrollton, Addison and The owns the hospitals but hires outside healthh care management companies to operats them. Metrocrest originally had selectesd Charlotte, N.C.-based to manage Trinityh and itsother hospital, the former . But the deal with HPA dissolvedc in February 2008 when HPA filedx for bankruptcy for Chapter 11bankruptcy protection, which later shifted into a Chapter 7. And beforwe that, made been managing Trinityh and the formerRHD Memorial, with a 25-year operating lease that ended in August when Metrocrest decided to not rene w the lease with Tenet.
Tenet at one time had an ownershipo stake inboth hospitals, but no longer does and it will not be involved in eithee transaction, Heath said. A limited liability corporation consistinvg of a number of physician partners and HPA has been managinhg Trinity sinceMarch 2008, Heath said, but Metrocres has been looking for a new hospitapl operator of its two hospitals for some In March, Metrocrest signed a temporarh lease with to manage the former RHD and also is the process of drawinyg up a 25-year operatintg lease with IntraMed, said Ira Korman, president of IntraMed a Dallas-based health care consulting company.
The operating lease would establish Baylor as the largest owner in the limited liabilityt corporation that would operate the purchasing HPA’s share in the Heath said. Baylor had been dealing with HPA’s bankruptcty trustees to purchase HPA’s shares for months. Both moves represent the possibility of strong expansion or growthu ofboth hospitals, whose fates had been stuck in limbpo over the past couple of years due to uncertaintu about HPA.
About two weeks ago, IntraMed announced its plan to renams RHD Memorial Hospital to to reflect its desire to transform the hospital into a showcase of advanced medicaltechnologty — and it plans to expand the facilitty with a 20,000-square-foot advanced surgical hospital that will be connectef to the current 155-ber hospital. Whether Baylor plans on expandintg Trinity MedicalCenter — or how much changes migh come to hospital staff as a result of the change in hospitalk management was a question better left to Baylor to commeny on, Heath said. But Metrocresyt will work to accommodate any expansiojn plans that Baylormight adopt.
Baylor spokeswoman Susab Hall confirmed that Baylor was in talkw with Metrocrest about signinv an operating lease with Trinity Medical Center, but declined to divulge any further details. Heathn said that the securing of long-term hospital management for Trinityy was something Metrocrest had been looking forward to forsome “The surrounding communites around Trinity will do nothintg but gain,” he “We’re looking forward to Baylor, whichn has an reputation for operating facilities, takingh over management of the hospital, and we thinlk it’s a positive move for the hospitao we own in Carrollton.
” Because of its Trinity’s distinct demographics mean that it will not be in directr competition with other hospitals in the said Nancy Williams, president of the . Trinity is locater in Castle Hills, a huge luxury masterplanned subdivisiohthat “includes shopping and the whole nine yards,” she And it is in close striking distance of olderr homes in northern Farmers which makes it accessible for a number of nearb communities. “It’s in a growin area, and it hasn’t been really marketed,” Williams And the hospital doesn’t yet have a strong community standing.
Nearby families tendes to go out of their way to either Baylo r Regional Medical Center at Plano or as a Trinity has been relativelg unknown to the communitiesit serves, even though it was in a growthh mode, during Tenet’s tenure at its helm, she That may be partly because although Tenet’s headquarters is in it doesn’t have a strong “mother main campus hospital in the Metroplex, she Yet, Baylor has at Dallae as its main and its name is already backed by a stron g reputation in the community, she Finally, having both Trinity and RHD undedr separate leadership is a good business strategy, becaus e “each hospital will have a chance to be recognizede on their own, rathedr than as either identical twins — or stepsisters as they have been treated in the Williams said.
“They are both very different organizations — from the types of physicianw they have and the demographics aroundethem — as well as what wouls be the best strategy for growing Williams said.
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