Cedar Creek Lake

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ETMC mum on reports of pending sale

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David Webb is a veteran journalist who has written for the mainstream and alternative media for three decades. He is now a freelancer who lives in the Cedar Creek Lake area. He is the editor of cedarcreeklake.com. E-mail story ideas to davidwaynewebb@yahoo.com.




The sale of East Texas Medical Center to another health care organization could be pending, according to published reports.


ETMC operates seven hospitals in East Texas, including Gun Barrel City and Athens.


The Tyler Morning Telegraph reported that Ardent Health Services, which operates 20 hospitals in six states, submitted a bid to buy ETMC to establish it as a part of the University of Texas medical group, and that Hospital Corp. of America of Tennessee, which operates Medical City in Dallas and 299 other medical and surgery hospitals, also wants to acquire ETMC.


ETMC officials would not confirm or deny the report, according to the Athens Daily Review. The officials noted that they announced several months ago that they wanted to partner with another organization to strengthen services to East Texas residents.


“It’s business as usual at ETMC,” officials told the Athens newspaper, adding that an announcement would be made if a deal is reached.


The newspapers alsp reported that ETMC suffered a bond debt rating downgrade from Moody's Investment Services affecting $280 million of outstanding revenue bonds, but that ETMC continued to make debt-service payments on fixed-rate bonds on time.


 




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