Business
Investor group buys hospital company
NEWS IN BRIEF — Posted May 24, 2004
Iasis Healthcare Corp., which owns and operates medium-sized acute care hospitals, is being sold for about $1.4 billion, to a group of investors led by a private equity firm.
The hospital chain announced on May 5 that it had reached a definitive agreement for the sale with an investor group led by Texas Pacific Group, which manages more than $13 billion in assets and has invested in everything from Oxford Health Plans to Burger King. The transaction is expected to be completed by June 30.
Iasis, which has annual revenues of about $1.2 billion, owns or leases 15 acute care hospitals in Salt Lake City, Phoenix, Las Vegas and cities in Florida and Texas. It also has ownership interests in other health care facilities. The Franklin, Tenn.-based hospital chain was formed in 1999 by JLL Partners and other investors.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/05/24/bibf0524.htm.
