University General Health System, Inc. to Develop Hospital in Houston Suburb of Alvin
(firmenpresse) - HOUSTON, TX -- (Marketwire) -- 10/06/11 -- University General Health System, Inc. (PINKSHEETS: UGHS), a diversified, integrated multi-specialty health delivery system, in partnership with the City of Alvin, Texas, today announced an agreement to develop a 27,000-square-foot critical care hospital in Alvin. The Alvin Community Hospital will be a focused community hospital developed on 10 acres of land in three phases. The first phase of development includes ten medical surgical beds and twelve emergency department beds that will provide additional functionality for minimally invasive procedures, diagnostic imaging and laboratory work, as well as a separate medical office building. The second and third phases of development will provide additional beds, services, and infrastructure to the focused community hospital. The City of Alvin has agreed to provide $2.5 million through an economic reimbursement mechanism for development of the infrastructure necessary for the multi-phase project.
"This new development complements our growth strategy in furthering the regional expansion of the University General system, providing our physicians and patients access to a high quality healthcare facility close to their homes," stated Hassan Chahadeh, M.D., Chairman and Chief Executive Officer of University General Health System, Inc. "The large underserved market of 125,000 people that live and work within ten miles of Alvin, which is located just south of Houston, generates 11,000 visits to emergency rooms and over 4,000 ambulance transports annually. Working with City of Alvin management has been very encouraging, and we share their commitment to the health care needs of their community and constituents. We plan to open the hospital early in the year 2013."
Alvin Community College, which specializes in the education and training of workers in health-related disciplines, was a key factor during the decision-making process. Donald Sapaugh, President of University General Health System, stated, "Alvin Community College's excellence is evident in its allied health programs, including a highly successful AD Nursing program that has received commendations from the Texas Board of Nursing for graduates' outstanding pass rates on the NCLEX-RN licensure exam. We look forward to working closely with Alvin Community College as a provider of high quality staffing solutions for our focused community hospital."
"We are very excited to announce the agreement with University General Health System to develop a medical community that includes a hospital, a medical office building and other medical-related services within the city limits of Alvin," stated Alvin's Mayor, Gary Appelt. "This agreement with University General Health System reaffirms our commitment to the citizens of Alvin to reestablish general acute care hospital services in the city."
Texas-based RC Healthcare Properties, LLC, working with the landowner and local founding physicians, developed the strategic plan in concert with University General Health System and will continue as the project development leader.
University General Health System, Inc. ("University General") is a diversified, integrated multi-specialty health care provider that delivers concierge physician- and patient-oriented services by providing timely, innovative health solutions that are uniquely competitive, efficient, and adaptive in today's health care delivery environment. The Company currently operates one hospital, two free-standing emergency rooms, and one ambulatory surgical center in the Houston area. Also, University General owns three senior living facilities and manages six senior living facilities, and it plans to complete multiple additional acquisitions in 2011 and future years in Houston and other markets.
The information in this news release includes certain forward-looking statements that are based upon assumptions that in the future may prove not to have been accurate and are subject to significant risks and uncertainties, including statements related to the future financial performance of the Company. Although the Company believes that the expectations reflected in the forward-looking statements are reasonable, it can give no assurance that such expectations or any of its forward-looking statements will prove to be correct. Factors that could cause results to differ include, but are not limited to, successful execution of growth strategies, product development and acceptance, the impact of competitive services and pricing, general economic conditions, and other risks and uncertainties described in the Company's periodic filings with the Securities and Exchange Commission.
For Additional Information, Please Contact:
Donald W. Sapaugh
President
(713) 375-7557
RJ Falkner & Company, Inc.
Investor Relations Counsel
(830) 693-4400
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Datum: 06.10.2011 - 04:04 Uhr
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News-ID 1043142
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