Legacy Hospital Partners, Inc. Begins Business
"I know that a private hospital company can be successful by having aculture and strategy that balances the needs of its hospital communities withthose of its sponsors," said Dan Moen, chief executive officer, LegacyHospital Partners, Inc.
Legacy's mission is to continuously improve the quality of healthcareservices provided to its patients by creating a collaborative culture thatemphasizes improving the health of patients by always focusing on their needs;fosters physician participation and involvement in hospital decision making;involves local leaders in the governance of each facility; and recognizes thevalue and contributions of employees.
Each Legacy hospital will have a local board of trustees to provide adviceand consultation with respect to various issues. At least half of the trusteesare expected to be physicians from the respective Legacy hospital medicalstaff while the balance are expected to be comprised of local communityleaders.
"Legacy's local hospital boards will be responsible for overseeinghealthcare within the community," said James D. Shelton, chairman of theboard, Legacy Hospital Partners, Inc. "We believe that the quality of patientcare is enhanced when healthcare decisions are made locally."
"By empowering each local hospital board of trustees to make importantdecisions, we are building collaboration and accomplishing our goalstogether," Shelton commented.
Stephen Murray, president and chief executive officer, CCMP Capital,added, "Legacy's management team has more than 160 years of combinedexperience. They understand what physicians and employees do every day and asa result have a unique perspective that many in the industry do not have."
"We all grew up in the industry, and it's important to us," Shelton said."We strive every day to build collaboration among the ranks - to work togetherto create an environment where physicians and staff want to work, which, inturn, creates better care for patients."
About Legacy Hospital Partners, Inc.
Legacy Hospital Partners, Inc. is a privately held company that will own,operate and manage acute care hospitals in small cities and select urbanmarkets throughout the United States. Headquartered in Plano, Texas, andestablished in January 2008, Legacy is owned by affiliates of private equityfirm CCMP Capital Advisors, LLC and the Canada Pension Plan Investment Boardas well as members of management. For more information, visitwww.LegacyHospitalPartners.com .
About CCMP Capital Advisors, LLC
CCMP Capital Advisors, LLC is a leading global private equity firmspecializing in buyouts and growth equity investments in companies rangingfrom $500 million to over $3 billion in size. CCMP Capital's founders haveinvested more than $12 billion since 1984 in five primary industries:consumer, ret
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