Major Medical Shakeup

Major medical shakeup: St. Luke's sold to a surprise out-of-town buyer in a $2 billion deal

After nearly a year of study, negotiations and speculation, the St. Luke's Episcopal Health System board has approved an agreement that will transfer the system to Denver-based Catholic Health Initiatives. Surely a blow to the Memorial-Hermann Health System and to the Methodist Hospital System, both of which had been serious contenders and finalists in the selection process.

CHI will contribute more than $1 billion to create a new Episcopal Health Foundation, designed to meet the needs of the area's underserved population. An additional $1 billion has been committed for future investment in the system.

"We are humbled to be able to preserve the legacy of St. Luke's, while expanding the Diocesan commitment to health care," said the Rt. Rev. C. Andrew Doyle, Bishop of the Episcopal Diocese of Texas.

The name will change only slightly — to St. Luke's Health System, with completion of the transaction expected early this summer.

Transfer of St. Luke's to an out-of-town entity was widely unexpected as both Memorial-Hermann and Methodist had been ardently vying for St. Luke's. "It was a long and difficult process," said Memorial-Hermann CEO Dan Wolterman. "And we respect St. Luke’s decision to select CHI as a partner to carry forth their mission."

Methodist CEO Dr. Marc Boom in a full-page statement on the transfer and Methodist's future said, "While each party appreciates the efforts of the other party to try to come to an agreeable transaction, we are no longer pursuing a transaction together. I regret that I cannot provide any more details about St. Luke’s decision."

The faith-based system operates in 17 states with 78 hospitals; 40 long-term care, assisted living and residential facilities; two community health services organizations; two accredited nursing colleges; and home health agencies. With annual revenues of more than $10.7 billion and some 83,000 employees, CHI is the nations second largest faith-based health system.

CHI president and CEO Kevin Loftin said in a statement, "The relationship with Catholic Health Initiatives ensures the greater Houston area will retain one of its great healthcare institutions while best preparing St. Luke's to meet future changes in healthcare."

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spacious memorial mansion

Striking French-inspired Houston estate hits market for $12.5 million

TK Images for Martha Turner Sotheby’s International Realty

412 Timberwilde Lane sits on more than two acres in Hunters Creek Village and is on the market for $12.5 million

A magnificent estate awaits in one of Houston’s most desirable neighborhoods. 412 Timberwilde Lane is a stunning brick and limestone home, inspired by French country manor houses. It’s on the market for $12.5 million and represented by Jay Monroe and Stephen Warrell ofMartha Turner Sotheby’s International Realty

Nestled on nearly 2.5 acres of meticulously manicured grounds in exclusive Hunters Creek Village, this home blends old world elegance with modern amenities, including 24/7 private security. The grand foyer’s soaring ceiling sets the tone upon entry, announcing that 412 Timberwilde Lane is something special.

Consider the formal library, with its rich, paneled walls and cross-beam ceiling, and the spacious dining room with its cozy fireplace. The living room offers breathtaking views of the rear gardens, pool, cabana, and tennis courts. Just off the kitchen, a light-filled breakfast room is a perfect place for morning coffee and admiring the grounds.

The primary suite is the embodiment of luxury, with dual bathrooms and ample closet space, ensuring comfort and convenience. This private oasis is a place to unwind and relax.

The home’s second floor offers a floor plan that can be tailored to suit any lifestyle. The bedrooms are generously sized with large closets and private baths. A playroom with a built-in playhouse castle makes for a perfect spot for kids’ imaginations to run wild. Other rooms could be utilized for a second home office, exercise room, yoga retreat, crafting space, or whatever else a family might need.

The third floor offers a game room featuring a wet bar, billiards area, and a big-screen TV, making it the ultimate place to relax and have fun with family and friends. The outdoor areas include an in-ground pool and summer kitchen, perfect places.

This one-of-a-kind estate offers an array of amenities for living and entertaining. Its location is both convenient to the city and a restful retreat.

Photo by TK Images for Martha Turner Sotheby’s International Realty

412 Timberwilde Lane sits on more than two acres in Hunters Creek Village and is on the market for $12.5 million.

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