Nobilis Acquires Houston Medical Center Located Hospital

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Nobilis Health Corp. (NYSE MKT:
HLTH
)
NHC
. Nobilis Health Corp. (Nobilis) today announced that it has entered into an agreement to acquire Victory Healthcare Houston Hospital, a state of the art surgical hospital located in the world's largest medical centers. With 25-beds and 6 operating rooms, the hospital has provider agreements with most of the health insurers with the largest number of covered patients in Texas. Nobilis will acquire a controlling stake in the hospital for cash consideration of $1.5 million dollars and the assumption of capital leases totaling approximately $2.4 million dollars. In addition, Nobilis will extend credit to the hospital and assume certain payment obligations to the hospital from Victory Healthcare. "This acquisition continues the company's strategic plan for 2015 to acquire an in-network hospital option for our providers, patients and branded procedures," said Chris Lloyd, Nobilis' CEO. "With Nobilis' nationwide and international reach through its marketing programs, having an in network hospital will allow us to capture revenues from in-network leads generated from our marketing programs. The hospital's location, size and capabilities means the hospital can accommodate patients not only in the Houston area but from all over the country." "Much like the First Street Hospital acquisition last year we expect to provide an immediate positive impact on the hospital revenues," stated Harry Fleming, President. "After this acquisition we will continue to seek opportunities that can benefit from our marketing programs but will also broaden our search to include larger, profitable companies that fit within the Nobilis business model."
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