Companies: Firm buys doc-owned Houston hospital


By John Mugford

Norvin Properties recently acquired this specialty hospital, Patients Medical Center, and its 13 acres of land near Houston. The facility is now operated by a joint venture of physician/owners and St. Luke’s Episcopal Health System.
Photo courtesy of Norvin Properties

In a deal put together by New York-based Norvin Properties and its managing partner and founder, Norman K. Livingston, Houston-based St. Luke’s Episcopal Health System recently acquired 51 percent of a new joint venture that is operating Patients Medical Center (PMC) in Pasadena, Texas.

In another aspect of the transaction, Norvin Properties acquired the real estate – the 117,000 square foot building and the 13 acres it sits on – for about $40 million, according to various news reports. The deal came together after the physician/owners of the 61-bed hospital approached Mr. Livingston in 2009 about possibly buying the facility.

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