Cornerstone Healthcare Group
The Dallas-based health care group has acquired a Houston-based long-term acute care hospital owned by HCA Houston Healthcare Inc. The hospital is located in the medical center’s North Tower, according to a news release. The financial terms of the acquisition were not disclosed.
Although Cornerstone Healthcare Group did not acquire the actual building where the hospital is located, it does operate two of the floors of the hospital building. HCA Houston Healthcare Medical Center is also investing $40 million in new patient safety and quality, labs, and a new building facade.
Cornerstone Healthcare Group CEO Steve Jakubcanin said in an interview with the Dallas Business Journal that the acquisition was a natural partnership and that having two trusted health care systems on one campus is a “great win for the community.”
“This location in particular is right in the heart of Houston. It's in an amazing location and it's an area that HCA is investing in,” he said. “I think they've talked about what they're doing from a renovation standpoint and investing in the campus themselves. … For us, it's certainly a home run of a combination.”
Jakubcanin said the health care group is looking to invest in several other Texas hospitals.
Canes Midstream
The Dallas-based energy infrastructure company has received an equity commitment from EIV Capital and Canes’ management. The investment will allow Canes to acquire, own and operate midstream assets in the United States.
Canes is led by Scott Brown and Chad Choate, who have led the executive team to acquire and develop greenfield midstream assets in spaces including gas gathering, compression, crude oil and NGL gathering. EIV is a Houston-based private equity firm that focuses on midstream, energy infrastructure and processing, transporting and converting oil, natural gas and renewable fuels.
FleetPride
Irving-based distributor Fleet Price Inc. has acquired the assets of Commercial Truck Services of Little Rock and Conway, Ark.
Two of Commercial Truck Service’s founders, Joel Foster and Darryl Birdsong, will remain at the company to support the acquisition and day-to-day operations.
FleetPride is the largest distributor of truck and trailer parts in the independent heavy-duty aftermarket channel in the country. The company operates more than 270 locations in 46 states and has five regional distribution centers and carries over 400 brands.
