CHRISTUS Health makes offer for Wadley Regional in Texarkana
HOUSTON, TX – Steward Health Care has entered into a definitive agreement to divest Wadley Regional Medical Center in Texarkana, Texas, to the international Catholic health system CHRISTUS Health.
The bid from CHRISTUS Health has been designated as the stalking horse bid, setting a baseline for any other offers, the health system noted.
This action DOES NOT affect the Wadley Regional Medical Center in Hope.
The sale hearing for Stewards Health Care and the Debtors’ Hospitals including Wadley in Hope, has been postponed and rescheduled several times in U.S. Bankruptcy Court for the Southern District of Texas, Houston Division.
Hempstead County and the City of Hope with help from the Hempstead County Economic Development Authority recently created a city/county partnership named Southwest Arkansas Healthcare Authority, a collaborative effort to help ensure health care services can continue to be provided to the citizens of Hope, Hempstead County, and all other surrounding counties. The Healthcare Authority will own the building and property, and Pafford Health Systems will control the daily operations of the hospital.
If approved, Wadley Regional Medical Center at Hope hospital will be renamed Southwest Arkansas Regional Medical Center to reflect its purpose and mission,” said Clay Hobbs, Pafford Health Systems COO. “We are here to serve our community, and we believe in the dedicated employees and medical staff who have poured their souls into keeping the hospital open. We look forward to re-energizing and rebuilding our community hospital and continuing its long history of providing quality medical care with world class customer service.”
The Texarkana Wadley sale is part of a bankruptcy proceeding and is contingent on higher or better qualified bids received by September 9th.
If other bids are submitted, a bankruptcy court-approved auction may be held.
Steward Health Care chief restructuring officer John Castellano is quoted in the publication named Hospital Management as saying, “As Steward continues to move through the Chapter 11 process, we are working closely with various parties, officials and stakeholders in the Court supervised process to obtain the best results we can for our patients, employees, and the communities we serve.
“We are pleased to have found a new operator for Wadley in CHRISTUS Health, who we believe will continue our mission to provide high-quality and compassionate care to the people of Texarkana.”