Plano-based Community Hospital Consulting has finalized a five-year management agreement to try to right the ship at Gainesville-based North Texas Medical Center, the company said this week.
The group, which is the management and consulting arm of Community Hospital Corporation, will take over operations on May 1.
The agreement follows news in January that a previous hospital management company was dropping out of its agreement. That company, Pennsylvania-based Universal Health System, took the reigns after NTMC filed for bankruptcy in Dec. 2016.
The Gainesville Hospital District Board of Directors voted unanimously in favor of the agreement with CHC Consulting. A news release from CHC Consulting says UHS will “continue to collaborate as a tertiary partner in the region.”
Located 70 miles north of Dallas, NTMC has 60 beds.
“We are excited to bring CHC’s expertise in hospital management and talent in critical areas such as the revenue cycle and supply chain to strengthen NTMC,” said CHC President and CEO Jim Kendrick, in a statement.