On March 31, 2009, King’s Daughters Hospital and Scott & White Healthcare announced a merger and intent to create a regional children’s hospital. Scott & White continued to operate King’s Daughters Hospital as an acute-care hospital serving adults and their families until the conversion to the children’s hospital could be completed. A review by the Federal Trade Commission was conducted, and an FTC-approved offer was made to the Seton Family of Hospitals to acquire King’s Daughters.
Seton has declined the offer by Scott & White to purchase the assets of King’s Daughters Hospital.
Scott & White Healthcare respects the Seton Family of Hospitals’ decision to not accept the FTC-approved offer to acquire King’s Daughters Hospital.
Both Seton and Scott & White agree that King’s Daughters Hospital was in a severely distressed financial condition when we merged on April 1, 2009. We are happy to report that the operating losses have been cut more than in half in the last 8 months.
Scott & White can now move forward with planning for converting King’s Daughters into a free-standing children’s hospital and expanding children’s services here in Central Texas. The timetable for this transition will be determined as we develop the plan. The children’s hospital will continue to bear the name King’s Daughters after the transition.
Our intention has always been to save King’s Daughters hospital while enhancing services for our area. Throughout our 112-year history, Scott & White maintained a commitment to providing quality health care at the right place, at the right time. Health care services for children is the fastest growing unmet need in this area, and a free-standing children’s hospital will help reduce the need for families and patients to travel great distances to seek care.