IRVING, Texas, Sept. 03, 2024 (GLOBE NEWSWIRE) -- CHRISTUS Health, an international, not-for-profit Catholic health system, announced today that its affiliate CHRISTUS Health Ark-La-Tex has entered into a binding asset purchase agreement to acquire Wadley Regional Medical Center in Texarkana, Texas, from Dallas-based Steward Health Care.
CHRISTUS Health Ark-La-Tex’s qualified bid has been designated as the proposed stalking horse and, subject to the terms of the agreement, will be subject to higher or better-qualified bids due to be received by September 9, 2024. Thereafter, an auction may occur in accordance with bankruptcy-court approved procedures.
“CHRISTUS Health has a long, proud history of providing exceptional and compassionate care to the Texarkana community for over 100 years,” said President and CEO Ernie Sadau. “We want to ensure that legacy of service continues into the next century and are best positioned to do that by bringing Wadley Regional Medical Center into the CHRISTUS family.”
The transaction is subject to customary closing conditions, including bankruptcy court and regulatory approval, and is expected to close in the coming months should CHRISTUS Health Ark-La-Tex emerge as the winning buyer at the auction.
“We have proudly built a reputation of providing high-quality care to all those in need,” said Jason Adams, president of CHRISTUS St. Michael Health System in Texarkana. “We are committed to our mission of extending the healing ministry of Jesus Christ, to ensure that all people, including the underserved, have access to needed care.”
About CHRISTUS Health
CHRISTUS Health is an international faith-based, not-for-profit health care system based in Irving, Texas, with more than 60 hospitals in Texas, Louisiana, New Mexico, Chile, Colombia and Mexico. CHRISTUS Health is made up of 51,000 Associates providing compassionate and individualized care at more than 600 centers, including community hospitals, clinics, long-term care facilities and health ministries. Sponsored by the Sisters of Charity of the Incarnate Word of Houston, Sisters of Charity of the Incarnate Word of San Antonio and the Sisters of the Holy Family of Nazareth, our mission is to extend the healing ministry of Jesus Christ to every individual we serve. For more information, visit www.christushealth.org
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