CHI St. Luke’s Health Emergency Center, LLC
CHI St. Luke’s Health Emergency Center, LLC (“ER Center” or the “Company”) was formed in 2016 as a joint venture between a group of physicians and St. Luke’s to operate several freestanding emergency departments (“FSEDs”) throughout the greater Houston, Texas area. The FSEDs provide a variety of emergency services such as comprehensive adult & pediatric emergency care, clinical staff with emergency room experience, on-site emergency laboratory services, radiology services and on-site surgical procedures.
Lower-than-expected patient volumes and reimbursement-related issues led the Company to explore its strategic alternatives.
SSG was retained as co-investment banker along with Statesman Business Advisors, LLC (“Statesman”) to explore the Company’s options, including a sale of all or parts of the business. SSG ran a comprehensive sale process that generated significant interest from the market, with St. Luke’s offer for the remainder of the equity in the joint venture ultimately being the solution which provided the best outcome to all stakeholders.