Covenant Health on Thursday morning announced that Grace Health System will join Covenant.
Covenant CEO, Richard Parks, said, “Grace Health System is going to become part of the Covenant Health System and we’re really excited about that.” Parks said the announcement was three years in the making.
As part of the announcement, it was said that a new short-stay hospital would be built in the next three years or so. Grace CEO, Dr. Randy Hickle, said the new hospital would focus on those who get surgery and need to spend a few days with inpatient care.
The location and size of the new hospital were not yet announced.
When asked about the “business aspects” of the deal, Parks said, “We’re going to prefer to keep that between the two parties.”
However, Covenant did say it was an acquisition of Grace.
Grace Clinic will continue to operate under the same name and same leadership structure. Grace Started in 2006 with eight doctors on staff. More recently Grace said it had 50 doctors on staff.
Covenant Health said its network has more than 600 doctors and more than 5,000 employees.
CLICK HERE to see a video replay of the announcement.
The following is a written statement from Covenant after the official announcement:
Covenant Health acquires Grace Health System
Effective February 1, Covenant Health has acquired Grace Health System.
Covenant Health’s acquisition of Grace Health System will result in the most clinically integrated health network in Lubbock, West Texas and eastern New Mexico. Together, we will be able to deliver more effective care to our community by providing greater access to services, physicians and innovation in the delivery of health care.
“We both have long-standing commitments to the communities we serve,” said Richard Parks, President/CEO of Covenant Health. “A guiding principle has been to selectively expand our clinically integrated health network to provide greater access to care and services for our patients with the highest quality physicians and care providers. We believe that Covenant Health and Grace Health System share a commitment of excellence and together we can do more.”
Dr. Randy Hickle, Founder and Chairman of Grace Health System said, “The privilege to be one of the co-founders of Grace has been one of the greatest experiences in my life. I am grateful to the wonderful doctors, nurses and employees who have made Grace the amazing award-winning organization that it is. Most of all, I thank the patients who have trusted us to provide their care.
“Covenant’s mission to serve the vulnerable and disadvantaged aligns with our goal to improve access and provide better care to those who need it most,” Hickle added. “Joining together with Covenant is a positive step forward for the future, because working with Covenant will allow us to engage in innovative initiatives as part of a larger team. We will be committed to improving preventive health, lowering cost and excelling at coordinating patients’ care across the continuum of their needs.”
Parks added “This is a great day for the people of Lubbock. Together, Covenant and Grace will be able to improve access and innovation in the delivery of care for the benefit of our physicians and patients.”
Covenant Health has served for 100 years as the only faith-based, clinically-integrated health network in the West Texas, eastern New Mexico region providing a Christian healing ministry. Covenant’s network includes seven hospitals, more than 1,100 licensed beds, more than 5,000 employees, over 100 primary care providers, and a medical staff of more than 600 physicians at its cornerstone facilities.
Grace Health System includes Grace Clinic and Grace Medical Center. Grace Health System is an innovative healthcare provider dedicated to clinical excellence, delivering an enjoyable patient experience and providing best value. Grace is committed to delivering the positive effects of preventive medicine and believes in the importance of a strong patient/doctor relationship. Grace was built on the mission of delivering the kind of care each of us wants for our own family.