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| Vol. 24, No. 3 |
| February 15, 2002 |
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St. Luke’s Purchases Interest in Kelsey-Seybold Management Services In a joint statement Feb. 5, St. Luke’s Episcopal Health System, The Methodist Health Care System and Kelsey-Seybold Physician Group announced that Methodist will sell its 50 percent interest in Kelsey-Seybold Management Services, LLP to St. Luke’s. The parties have signed a letter of intent and expect to have the definitive agreement completed by the week of Feb. 18. In April 1999, Methodist and St. Luke’s purchased the assets of the physician practice management business of Kelsey-Seybold Clinic and related real estate from Alabama-based MedPartners Inc., a transaction heralded at the time as one of the largest of its kind. "Methodist has enjoyed a mutually beneficial relationship with St. Luke’s and Kelsey-Seybold," said Ronald Girotto, acting president and CEO of Methodist Health Care System. "This transaction allows us to focus on our core business and what we are known for around the world – excellence in patient care." Kelsey-Seybold Medical Group, P.A., the 250-plus member physician group, is not part of the business transaction and will remain a separately organized professional association with a management services agreement with St. Luke’s. "Kelsey-Seybold Clinic has had a valuable relationship with St. Luke’s for several decades," said Dr. Spencer Berthelsen, Kelsey-Seybold Clinic board chairman. "Our relationship continues to strengthen, and we look forward to working even more closely with St. Luke’s in the future." Michael Jhin, St. Luke’s Episcopal Health System president and chief executive officer, says the strengthening of the collaboration between St. Luke’s and Kelsey-Seybold will benefit both organizations and the entire community. "We are delighted that the Kelsey-Seybold Management Company will become a full member of the St. Luke’s family," said Jhin. "We look forward to this enhanced relationship that will benefit the community, the Kelsey-Seybold physicians and St Luke’s." Kelsey-Seybold physicians will continue to manage all aspects of patient care and access to services. – St. Luke’s Episcopal Hospital, The Methodist Health Care System, and Kelsey-Seybold Clinic
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