USMD Increases Ownership in USMD Hospital at Arlington
September 16 2013 - 3:00PM
Business Wire
USMD Holdings, Inc. (NASDAQ: USMD), a physician-led integrated
healthcare system, announced today that USMD Hospital Division, its
wholly owned subsidiary, has acquired a 17.96 percent ownership
interest in USMD Hospital at Arlington from a group of individual
physicians and physician-owned entities. This acquisition increases
USMD’s ownership in USMD Hospital at Arlington to 45.4 percent.
Texas Health Resources will retain its 51 percent ownership
interest in the hospital.
This transaction is significant because it eliminates any direct
ownership of USMD Hospital at Arlington by referring physicians.
The Affordable Care Act, signed in March 2010, amended the federal
physician self-referral law and significantly limited the ability
of physician-owned hospitals to expand. With the transition in
ownership, the law no longer applies to USMD Hospital at Arlington
and the hospital will, again, have the opportunity to add new
operating rooms, procedure rooms, and inpatient beds and services,
as needed, to meet the expanding needs of patients in
Arlington.
“The transition of ownership at USMD Hospital at Arlington has
been in development for years and we’re excited to finalize this
transaction and increase USMD’s ownership in the hospital,” said
John House, M.D., chairman and chief executive officer of USMD
Holdings. “This gives the hospital the opportunity to increase its
service offerings even further to better meet the needs of the
Arlington community.”
This transition comes in conjunction with USMD Hospital at
Arlington’s 10-year anniversary. During the hospital’s 10-year
history, it has continually been recognized for its achievements,
clinical outcomes and the quality of care it provides.
The hospital was recently honored with an “A” Hospital Safety
Score by The Leapfrog Group for the second consecutive year. It was
ranked number four in the nation by CareChex for cancer care and
received a Healthgrades Awards 5-Star rating in appendectomy,
gynecologic surgery and prostatectomy. USMD Hospital at Arlington
has the most experienced robotic surgical team in North Texas,
having performed nearly 7,000 robotic surgeries since 2003. The
hospital was also selected as one of Modern Healthcare’s Best
Places to Work in Healthcare for 2012.
Beyond awards and recognitions, USMD Hospital at Arlington has
consistently ranked in the top percentiles for patient
satisfaction. In 2012, it ranked in the top three percent of the
nation for all facilities surveyed by Press Ganey.
“We are proud of our awards, recognitions and the patient
satisfaction scores we’ve been able to achieve throughout our
10-year history,” said Karen Fiducia, president of USMD Hospital
Division, which manages the operations of USMD Hospital at
Arlington. “We believe the transition of ownership will strengthen
the hospital and allow us to expand our facility and service
offerings even further, opening up additional opportunities to care
for patients. We look forward to continuing our patients-first
culture and we are confident that the facility will continue to
provide world-class service to patients as well as to physicians
who choose USMD Hospital at Arlington for their patients’
care.”
USMD Hospital Division has been the managing partner of USMD
Hospital at Arlington, L.P. since its inception. USMD Hospital
Division will continue to serve in those capacities.
About USMD Holdings, Inc.
USMD is a publicly held (NASDAQ: USMD), physician-led integrated
healthcare system committed to exemplary patient care.
Headquartered in Irving, Texas, USMD serves the Dallas-Fort Worth
metropolitan area with more than 250 physicians and associate
practitioners, and provides healthcare services to patients across
18 different specialties at its hospitals, cancer treatment centers
and physician clinics. For more information about USMD, visit
www.usmd.com.
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