CHRISTUS Health announced today that it has been chosen by Pontificia Universidad Católica de Chile (PUC) in Santiago, Chile, as the sole finalist to pursue negotiations toward a definitive joint venture agreement for the ownership, operation and expansion of PUC’s health network.
PUC is a top Chilean university owned by the Catholic Church, whose health network consists of two hospital campuses totaling approximately 600 beds, as well as 11 outpatient centers and a large laboratory and imaging services network, making it one of the largest health systems in Chile. In addition to providing medical services, this network is the main teaching campus of the University’s medical school, recognized as the premier school for the training of medical professionals in Chile and one of the best in Latin America.
Over the next few months, CHRISTUS Health and PUC will complete due diligence and negotiations toward a definitive joint venture partnership agreement.
“We are honored to be chosen by PUC as the organization they will work with to form an exclusive partnership,” said Ernie Sadau, president and CEO of CHRISTUS Health. “We believe that our international expansion will help us extend our mission around the world, meeting health care needs that are great and deeply felt in Latin America and complement our strong position in the U.S.”
“The partnership we create in Chile will also help us diversify our operations, increase long-term sustainability and help CHRISTUS lead the development of new, worldwide health care models,” Sadau said.
CHRISTUS Health is one of the few American health systems with a longstanding international presence, having a successful track record operating a joint venture in Mexico since 2001, Grupo CHRISTUS Muguerza, a seven-hospital system in Mexico. CHRISTUS Muguerza has pioneered the development of innovative models of care, including a host of successful outpatient medical clinics (called CAMs), a strategy they implemented in 2001, before these models found success in the U.S. Our long term experience in Mexico makes CHRISTUS an ideal partner who can bring management expertise and strategic planning to the premier UC network in Santiago.
Banchile Citi Global Markets and Citigroup Global Markets are acting as exclusive financial advisors to CHRISTUS Health in the negotiations toward a definitive joint venture partnership agreement.
“We look forward to the opportunity to answer this calling in Santiago, following the example of our sponsoring congregations in extending the healing ministry of Jesus Christ and strengthening Catholic health care around the world,” Sadau said.