The agreement was signed with management affiliates of Northeast Houston, Kingwood Diagnostic and Rehabilitation Center.
University General Health System chairman and chief executive officer Hassan Chahadeh said the acquisition will contribute to the expansion of the company’s regional network in the north Houston metropolitan area.
"The Company estimates that the acquired clinics should generate at least $6.5 million in annual net patient revenues, along with a projected yearly EBITDA of $2.6 million," Chahadeh added.
"The clinics will become hospital outpatient departments (HOPDs) of our flagship University General Hospital, which is located near the Texas Medical Center in Houston, Texas."
