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When Hospital Partners of America Inc. filed for bankruptcy Sept. 24, the Charlotte, N.C.-based hospital system hired Merrill Lynch & Co. to find buyers for its stake in Trinity Medical Center. Baylor has stepped forward to possibly take over HPA's limited liability share, which amounts to a long-term lease to manage the hospital. Metrocrest Hospital Authority, a division of the city of Farmers Branch, owns Trinity. "We're really looking forward to Baylor managing the property," said Charles Heath, CEO of Metrocrest. Baylor confirmed its interest in the hospital but said the parties are still negotiating. "We are involved in discussions," said Nikki Mitchell, spokeswoman for Baylor. HPA's failure and Baylor's move highlight an ongoing North Texas storyline of how only the strongest hospitals survive. Texas comes with unique challenges for a hospital manager. One of every four Texans -- or 5.7 million -- does not have health insurance, according to the U.S. Census Bureau. What's more, the recession and credit crisis are leading to sharp rises in unemployment, stripping people of their employer-sponsored health insurance. In turn, more people now rely on safety-net programs, such as Medicaid, and on providers' charity care programs, for their health care. Hospitals also must survive ever-rising drug prices, which have increased 15 percent between the first quarter of 2008 and the first quarter of 2009, according to Express Scripts, a national drug distributor based in St. Louis. Over the last decade, Dallas-area hospitals have dealt with those pressures through partnerships and consolidation. Texas Health Resources Inc., for example, was created when Harris Methodist Health System and Presbyterian Healthcare Resources combined operations in 1997. Arlington Memorial Hospital Foundation joined the organization soon after. To see more of The Dallas Morning News, or to subscribe to the newspaper, go to http://www.dallasnews.com. Copyright (c) 2009, The Dallas Morning News Distributed by McClatchy-Tribune Information Services. For reprints, email tmsreprints@permissionsgroup.com, call 800-374-7985 or 847-635-6550, send a fax to 847-635-6968, or write to The Permissions Group Inc., 1247 Milwaukee Ave., Suite 303, Glenview, IL 60025, USA. For full details for MER click here.
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