Signature Hospital, LLC (Triad Hospitals, Inc. [NYSE:TRI])

Status: Past
Initial Investment: December 2005
Location: Houston, TX
Investment Type: Build-Up
Investment Industry: Healthcare

Harvey & Company initiated the acquisition of three rural acute care hospitals from Triad Hospitals, Inc. (NYSE: TRI) in partnership with Dave Steffy, the co-founder of Community Health Systems and Province Healthcare. The hospitals were acquired by Signature Hospital Corporation, a holding company formed by Dave Steffy and Goldman Sachs Capital Partners. The transaction, in which Signature acquired Gulf Coast Medical Center in Wharton, Texas, Medical Park Hospital in Hope, Arkansas, and Pampa Regional Medical Center in Pampa, Texas, facilitated Triad’s divestiture of its non-core assets. In 2007, Signature made two additional acquisitions – St. Joseph’s Hospital of West Virginia, and Rockdale Medical Center of Georgia – effectively doubling in size. With $150 million of committed equity capital, Signature is well positioned for additional growth.

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