VMG Health is pleased to announce that Wise Health System (Wise) based in Decatur, Texas has become part of Medical City Healthcare effective today. Medical City Healthcare is a division of HCA Healthcare (HCA). VMG Health served as the strategic and financial advisor to the Wise Health board and management team.
Wise sought a partner to assist in meeting its objective of enhancing the strategic and financial position of the organization, and allowing it to provide robust access to high-quality care for the Wise community. Wise had a long history of constantly striving to be forward-looking in addressing long-term community needs. To achieve these objectives, VMG Health initially conducted a strategic options assessment. This led to the decision to pursue a sale or other alignment avenue. VMG Health was responsible for developing a request for proposal (RFP), facilitating discussions with potential acquirers regarding the opportunity, and assessing various responses to the RFP. After careful deliberation, the Wise board chose HCA as the preferred option for Wise and its community. VMG Health then led the due diligence and negotiations with HCA. VMG Health was honored to assist the Wise board and management team throughout this process.
Wise has a 45+ year history of providing innovative and ever-expanding services to residents of Wise County, Texas, and the surrounding communities. Wise’s interminable drive for excellence is evident from numerous designations and certifications earned in recent years. Wise consists of several healthcare offerings including four hospitals with a total of 186 beds. In addition, Wise has a large employed base of physicians and strong physician support for the organization. Wise is also a Center of Excellence for bariatrics, hips and knees, and spine services. In 1967, the Decatur Hospital Authority was created. An original 50-bed facility with two operating rooms was opened and served as the primary service site until the 1990s. In the 1990s, Wise began to expand service offerings to better serve the needs of its service area. In 2006, a new 175,000-square- foot, 99-bed facility with 10 operating rooms was added to the organization. In the mid-2010s, two surgical hospitals (Parkway and Argyle) were added to the Wise service offerings.
HCA is dedicated to giving people a healthier tomorrow. HCA was initially formed in 1968 and has grown to be one of the nation’s leading providers of healthcare services with more than 180 hospitals and 2,300 sites of care. HCA facilities are located in 20 states and the United Kingdom. HCA uses data from more than 37 million patient encounters each year to advance science and improve care for everyone. Medical City Healthcare is one of the largest, most comprehensive healthcare providers in the Dallas-Fort Worth market. It includes 16 hospitals with over 3,700 licensed beds, 14 ambulatory surgery centers, and 55 urgent care centers. Medical City Healthcare experiences over 625,000 annual emergency room visits and includes over 5,000 active physicians. Medical City Healthcare also pays over $75 million in property, sales, and federal income taxes while providing over $300 million in charity care annually.
VMG Health is a leading, national, full-service healthcare strategy and transaction advisory firm providing solutions exclusively for the healthcare industry. The Strategic Advisory Team prides itself on helping organizations through difficult decisions and specializes in the following areas: strategic planning; physician services; mergers, acquisitions, and affiliations; and financial and capital planning. With a long-standing reputation of excellence in client service, VMG Health provides the expertise you can rely on. Learn more at vmghealth.com.
For more information, please contact:
Ed McGrath
Managing Director
VMG Health
630-467-1702/Cell: 847-910-0564
ed.mcgrath@vmghealth.com
Quinn Murray
Manager
VMG Health
630-467-1707/Cell: 847-507-7846
quinn.murray@vmghealth.com
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