Memorial Health System of East Texas (Memorial) and Catholic Health Initiatives (CHI) have signed a definitive agreement and transferred ownership of Memorial to CHI, effective June 1.
Memorial and CHI recognize that changes in the national health care landscape present challenges to a stand-alone heath care system. Being part of a national system is vital to the future success of health care organizations. Both are committed to strengthening health care in Texas.
“CHI is excited to welcome Memorial to our system and I’m pleased to announce that Gary Looper will continue as president and CEO of Memorial,” said CHI Chief Executive Officer Kevin Lofton. “As our presence in Texas grows so does our deeply held commitment to build strong relationships of lasting value to better serve the people of Texas. As part of CHI, Memorial also will benefit from CHI’s overall scale and reach as well as the exciting new ventures that St. Luke’s Health is undertaking with the Baylor College of Medicine and the Texas Heart® Institute in Houston.”
“Memorial’s 65-year mission is expanded, strengthened, and secured through this transfer of ownership to CHI, said Gary Looper, president and CEO for Memorial. “CHI’s strong commitment and resources, national reach, and successful faith-based ministry make this an excellent fit for Memorial. We are excited about the opportunities that will be available through CHI’s other Texas affiliations.”
CHI has committed to preserve existing physician relationships in the community and build new ones. CHI is committed to creating a strong regional physician network to sustain and grow the network throughout the state.
CHI intends to retain the core health care services and charity care currently provided by Memorial in the East Texas community, which will be overseen by a local board of community and physician leaders.