A Medical Device Daily

Community Health Systems (Franklin, Tennessee) and Texas Health Resources (Arlington, Texas) reported that Texas Health Resources and Triad-Denton Hospital, GP, LLC and Triad-Denton Hospital, L.P. (Denton, Texas) and certain of their affiliated companies have executed a settlement agreement regarding an action that was pending in the U.S. District Court of the Eastern District of Texas.

Triad-Denton Hospital, GP, LLC and Triad-Denton Hospital, L.P. will convey their partnership units in a partnership with Texas Health Resources that owns Presbyterian Hospital of Denton (Denton, Texas), and other related hospital assets to Texas Health Resources, or an affiliated entity, for roughly $100 million, subject to regulatory approvals. The agreement settles all claims and fully resolves the lawsuit, the companies said. The deal is expected to close on March 31.

Community Health Systems, through its subsidiaries, owns, leases or operates about 120 hospitals in 29 states, with an aggregate of roughly 17,600 licensed beds.

Texas Health's system of 13 hospitals includes Texas Health Harris Methodist, Texas Health Arlington Memorial, Texas Health Presbyterian, and a medical research organization. Texas Health is a corporate member or partner in six additional hospitals and surgery centers.