The North Texas Medical Center in Gainesville will come under the management of Plano-based Community Hospital Corp. in May, NTMC board members voted last week, according to KXII-TV.
In December 2016, NTMC said it was filing for Chapter 9 bankruptcy and taking on new management by Pennsylvania-based Universal Health Systems. Under the agreement, UHS was to take over operations and lease five buildings on NTMC’s campus.
NTMC announced that UHS would discontinue the agreement in late January. NTMC reported losing more than $650,000 a month prior to the announcement, according to KXII.
NTMC and Community Hospital Corp. landed on a two-year agreement; NTMC has an opt-out option after a year, KXII reported. CHC has nine locations in Texas and 15 others spread across 10 additional U.S. states.
