Business
Vanguard is acquired
NEWS IN BRIEF — Posted Aug. 16, 2004
The Blackstone Group, a New York private investment firm, has signed a definitive agreement under which it will a acquire a majority interest in Vanguard Health Systems Inc. for $1.75 billion.
Vanguard Health Systems, Nashville, Tenn., which owns 16 acute care hospitals in Arizona, California, Illinois and Texas, was formed in 1997 by management and Morgan Stanley Capital Partners. In connection with the transaction, expected to close by Oct. 1, management and Morgan Stanley will reinvest in and own about 30% of the company.
Note: This item originally appeared at http://www.ama-assn.org/amednews/2004/08/16/bibf0816.htm.












