AUSTIN, TX - (September 1, 2010) - Charles J. Barnett, FACHE, President/CEO of the Seton Family of Hospitals, and Grady Hooper, CEO, Smithville Regional Hospital, today announced that Seton has entered into a letter of intent with the Smithville Hospital Authority to lease and operate the Smithville Regional Hospital. The initial lease duration will be set at 30 years, with an optional 20-year extension. The transaction is expected to be final by the end of the year.
"The needs of the residents of Bastrop County coincide with the mission of the Seton Family of Hospitals," Barnett said. "The residents of Bastrop County require complex health care services. As we've demonstrated in Luling and the Highland Lakes, Seton can bring entirely new levels of healthcare to a region-comprehensive care for patients with complex needs, enhanced trauma services, and care for the vulnerable."
Currently, Bastrop County is the ninth-fastest growing county in Texas, and has been given the official designation as a "Federal Health Professional Shortage" area. Adding to Bastrop County's health care challenges is the fact that Medicaid and charity or self-pay admissions to area hospitals and emergency departments is expected to nearly double by 2020.
"Stand-alone hospitals face a unique and nearly insurmountable challenge," Barnett continued. "By partnering with the Seton Family of Hospitals, Smithville and Bastrop County will be able to meet those challenges of delivering enhanced healthcare, recruiting new physicians, and strengthening the area's safety net."
"Uniting the Smithville Regional Hospital and Seton is a great advantage for Bastrop County residents," said Earl Walborg, Chairman of the Board of Directors for the Smithville Hospital Authority. "It's also beneficial for our employees to be part of a strong health care network."
Neither Barnett nor Walborg anticipate any significant
disruptions in day-to-day operations.
Seton is proud to have four hospitals – the only hospitals in Central Texas - that have earned the