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Ziegler Client, Critical Access HealthCare LLC, Acquires Texas Hospital
Date:10/10/2007

CHICAGO, Oct. 10 /PRNewswire-FirstCall/ -- Ziegler announced today that their client, Critical Access HealthCare LLC (CAH), has acquired Golden Plains Community Hospital, a 25-bed critical access hospital in Borger, Texas. Ziegler Healthcare Consulting was instrumental in assisting CAH throughout the acquisition process.

Under the terms of the Sept. 30 agreement, CAH will acquire all of the assets of Golden Plains Community Hospital -- except for the existing hospital building -- from the district. CAH will operate the existing facility under a lease agreement with the county hospital district until a new hospital is built. Ground breaking is tentatively scheduled for spring of 2008, with construction estimated to take 12 to 18 months.

"This transaction combines the deep financial and industry knowledge of Ziegler, the nation's oldest healthcare investment bank, with the hospital operations expertise of Charlie Slaton, CAH's founder and chief executive officer, who has an impressive 20-year record of successfully operating hospitals," said Greg Johnson, Director of Ziegler Healthcare Consulting. "Ziegler is pleased to be able to help new companies like CAH and we are equally pleased that CAH will be bringing a brand-new hospital to the citizens of Hutchison County. We have confidence in CAH's ability to make this hospital a success."

Said Slaton, "With Ziegler's advice and support, CAH is proud to be able to bring our operations expertise to Golden Plains Community Hospital. CAH could not have completed this acquisition without Ziegler. They have been in the healthcare market for almost 80 years and their understanding of the financial side of the healthcare business is second to none."

Golden Plains Community Hospital has steadily lost market share over much of the last two decades, in large part because of the deterioration of its physical plant. The original hospital building was constructed in 1937, and the weighted average age of
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SOURCE Ziegler Companies, Inc.
Copyright©2007 PR Newswire.
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