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.
The qualified bid for CHRISTUS Health Ark-La-Tex has been designated as the proposed stalking horse and will be subject to any higher or more qualified bids, subject to the terms of the agreement, which are expected to be received by September 9, 2024. An auction may then take place pursuant to procedures approved by the bankruptcy court.
“CHRISTOS Health has a long history of providing exceptional, compassionate health care to the Texarkana region for more than 100 years,” said Ernie Sadau, president and CEO. “We want to continue this tradition of service into the next century, and we are perfectly positioned to do so by welcoming Wadleigh Regional Medical Center into the CHRISTOS family.”
The transaction is subject to customary closing conditions, including bankruptcy court and regulatory approvals, and is expected to close in the next few months if CHRISTUS Health Ark-La-Tex is the successful bidder at auction.
“We have proudly built a reputation for providing quality health care to all who need it,” said Jason Adams, president of CHRISTUS St. Michael Health System in Texarkana. “We are committed to our mission to spread the healing ministry of Jesus Christ and ensure that all people, including the underserved, have access to the health care they need.”
About CHRISTUS Health
CHRISTUS Health is an international, nonprofit, faith-based health system based in Irving, Texas, with more than 60 hospitals in Texas, Louisiana, New Mexico, Chile, Colombia and Mexico. CHRISTUS Health’s 51,000 staff members provide compassionate, personalized care in more than 600 centers, including area hospitals, clinics, long-term care facilities and healthcare facilities. Sponsored by the Sisters of Charity of the Incarnation of Houston, the Sisters of Charity of the Incarnation 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.
