PARIS, Texas - Essent Healthcare, Inc. has completed its purchase of the assets of CHRISTUS St. Joseph's Health System. The transaction was effective January 1 at midnight.

On September 22, 2003, CHRISTUS selected Essent to purchase the St. Joseph's System. In December, Essent announced its intentions to change the name of the facility to Paris Regional Medical Center. The transaction includes hospital facilities with a total of 364 beds and 11,000 admissions per year, and four rural health clinics.

"We're delighted to have been selected by CHRISTUS, and we are just as excited to have completed the purchase of Paris Regional," said W. Hudson Connery, Jr., founder, president and chief executive officer of Essent. "Our company prides itself on investing in hospitals that are truly essential."

As part of the transaction, Essent has formed a local Board of Trustees comprised of leaders from throughout the region who will help the hospital create its strategic plan and stay close to the people it serves.

"Understanding the needs of the communities that we serve is essential to our mission, and we are grateful to the trustees who have agreed to continue to serve in this capacity," Connery said.

Members of the board are: Jo Ann Parkman, Bobby Walters, Gene Stallings, Ken Rogers, Terence Babcock, M.D., William D. Hayden, M.D., Steve Graves, M.D., and C.A. Temple, M.D.

"We are truly excited about the opportunity to enhance and expand upon the services and high quality care provided at Paris Regional Medical Center," said Joe Pinion, executive vice president and chief operating officer of Essent Healthcare. "With the help of the trustees, members of the medical staff, and the employees, we believe that Paris Regional will become a truly great regional medical center. We are committed first and foremost to providing high quality health care services for everyone in Paris and the surrounding communities."

Essent Healthcare was founded in 1999 with the mission of acquiring community hospitals and providing them with the financial resources and the expertise they need to grow. Essent hospitals include Merrimack Valley Hospital in Haverhill, Mass., Sharon Hospital in Sharon, Conn., Nashoba Valley Medical Center in Ayer, Mass., Crossroads Regional Medical Center in Wentzville, Mo., and Paris Regional Medical Center in Paris, Texas.

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