The two companies were brought together by First MidAmerica Investment Corp., headquartered in St. Joseph, MO. The existing 72-bed University General Hospital at 7501 Fannin St. near the Texas Medical Center will be the JV's flagship model for future developments. The hospital, designed and owned by physicians, incorporates state-of-the-heart healthcare services in a setting to make the patient feel like a guest in a luxury hotel.
"University General Hospital has shown to be a proven business model," Kamran Nezami, CEO and president of University General Hospital Systems, says in a press release announcing the joint venture. Neither he nor Alliance Development could be reached for comment before deadline.
"We think the University General Hospital healthcare model is sound and can be placed in many more markets," says W.J. Burk, president of Alliance Development Group. "Our expertise in locating and purchasing the right property, as well as building and outfitting healthcare facilities, will allow us to move rapidly into new markets. Our approach will be to build additional physician-owned acute care facilities."
The JV plans to break ground on a second physician-owned hospital in Houston in the Chinatown area. Details about the project were unavailable. The JV partners also are eyeing projects for Dallas, Denver and Phoenix.
© Arc, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to TMSalesOperations@arc-network.com. For more information visit Asset & Logo Licensing.