Leaders of Vanderbilt University Medical Center (VUMC) have announced completion of the acquisition of Tennova Healthcare-Lebanon, a two-campus facility licensed for 245 beds, from subsidiaries of Community Health Systems, Inc. (CHS). Terms of the transaction were not disclosed.
Last month, Corizon Health, the nation's leading correctional healthcare company, announced it has entered into an amendment and restatement of its existing credit facility resulting in additional funding in the amount of $25 million of new term loans. Additionally, the company secured commitments for $7.3 million of additional term loans, which can be drawn by the company before the end of the year (subject to customary conditions). Corizon officials said the proceeds of the new loan and funding commitments will provide the company with significant financial and operational flexibility, including costs associated with new contract acquisitions and to fund additional growth opportunities.
Urgent Team is now an Authorized VA Urgent Care Provider as part of the VA MISSION Act. Passed by Congress last year, this act now allows eligible veterans to visit participating urgent care centers for their urgent care needs without pre-authorization or an appointment, including Urgent Team's 11 Middle Tennessee centers. In other corporate news, Washington Regional and Urgent Team Family of Urgent Care & Walk-In Centers announced a joint venture partnership, which will create a branded network of walk-in urgent and family care centers throughout Northwest Arkansas.
Covenant Surgical Partners has announced its newest partnership with Arizona Centers for Digestive Health (AZCDH), the state's leading provider for full-spectrum gastrointestinal care, treating more than 52,000 outpatient clinical patients per year. With this new agreement, Nashville-based Covenant adds 11 new practice locations and two state-of-the-art ambulatory surgery centers to its expanding national portfolio.
Integrated Telehealth Partners (ITP) has joined Nashville-based Psychiatric Medical Care, LLC (PMC), a leading behavioral healthcare management company with operations in more than 20 states. ITP leverages telehealth to provide access to psychiatric services in underserved communities across a variety of clinical settings. The company offers both outpatient telepsychiatry services in community mental health clinics as well as 24/7 emergency telepsychiatry consultation services in hospital emergency rooms. PMC manages both inpatient psychiatry units and intensive outpatient psychiatry programs within hospitals. The combination will help serve patients across the continuum and offer access to a larger pool of providers.
Stratasan, LLC, a Nashville-based healthcare data analytics software provider, has announced completion of a $26 million investment round led by Fulcrum Equity Partners with participation from Frist Cressey Ventures, Blue Heron Capital, Bridge Bank and Company management. Stratasan will use this capital to further expand its product offerings as well as invest in its sales, marketing, and customer success teams.