University General Health System, Inc., a diversified, integrated multi-specialty health care delivery system, today announced that it has acquired a sleep and imaging center from Jacinto Medical Group in Baytown, Texas. The acquisition is expected to contribute greater than $5 million in annual revenue and an estimated $1.6 million in adjusted EBITDA (a non-GAAP measurement) annually to operating results as a hospital outpatient department of the Company’s flagship hospital in Houston. This acquisition complements the ambulatory surgical services currently provided by the Company in Baytown. Terms of the transaction were not disclosed.
“This acquisition expands the services that we are able to provide within the Baytown community, and we believe it will be very accretive to our strategic plan to develop our integrated health care delivery system,” stated Hassan Chahadeh, M.D., Chairman and Chief Executive Officer of University General Health System, Inc. “We are delighted to continue building upon our constructive relationship with Jacinto Medical Group and look forward to additional growth in this part of the Houston metropolitan area.”
Jacinto Medical Group is a multi-specialty healthcare provider that is staffed by fifteen physicians and seven mid-level providers. The group was founded over sixteen years ago, and the physicians have been working together to serve the Baytown community for over twenty years. “Our association with University General has been outstanding, and we expect to continue providing a quality of patient care that is consistent with the high standards set by the hospital,” stated Siraj Jiwani, Chief Executive Officer of Jacinto Medical Group.
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