The Bee Cave Bee

After years of rumor and speculation about the future of LRMC it has been announced that the Baylor Scott and White system will acquire them effective Fall 2016.

Here is the full release:

"Baylor Scott & White Health and Lakeway Regional Medical Center in Lakeway, Texas, today announced an agreement for Baylor Scott & White to acquire the hospital operations. The agreement will facilitate the parties working toward a successful closing of the transaction later this summer.

This announcement comes after months of conversations between the leaders of both organizations to explore strategic ways to improve quality and access to healthcare in the Austin/Round Rock region. Already the largest not-for-profit health system in the state, the addition of Lakeway Regional Medical Center (LRMC) will enhance Baylor Scott & White's ability to serve additional communities in Central Texas.

"We are constantly looking for ways to improve access to quality care and the overall health of the communities we serve," said Joel Allison, president and CEO, Baylor Scott & White Health. "This is about advancing our mission of population health for our great state."

Founded in 2012, to serve the Texas Hill Country, Lakeway Regional Medical Center is a 106-bed, full-service, state-of-the-art medical campus with 300 affiliated physicians and 450 employees. It provides services in emergency medicine, neurosurgery, orthopedics, neurology, cardiology, general surgery, gastroenterology and women's health. LRMC is currently owned by independent investors.

"The Lakeway Regional Medical Center board selected Baylor Scott & White because we share a similar vision of what we can accomplish together in this community as part of a larger statewide network," said Philippe Bochaton, CEO of Lakeway Regional Medical Center. "As part of Baylor Scott & White, we can more quickly enhance and grow services and ensure access to affordable, high-quality healthcare for patients and their families in Lakeway and surrounding communities for years to come."

Upon successful closing of the transaction, LRMC will join a strong contingent of Baylor Scott & White healthcare providers in a growing area, including Baylor Scott & White Medical Center - Round Rock, Baylor Scott & White Medical Center - Marble Falls, Baylor Scott & White Medical Center - Llano and numerous clinics. LRMC will become part of the Baylor Scott & White brand, to be named Baylor Scott & White Medical Center - Lakeway.

The planned transaction will provide opportunity for increased collaboration between Central Texas providers to deliver better-coordinated care to the regions they serve. It will also offer many advantages to the LRMC medical staff and caregivers, including access to clinical quality resources, investments in facility and medical equipment upgrades and training resources.

With the signing of the agreement, LRMC and Baylor Scott & White begin working toward completing the items required for closing the transaction, including the transition planning process and applicable regulatory and third party approvals.

In the meantime, nothing changes for patients and their families, employees or physicians at either organization, both of which will continue to focus on delivering excellent, safe, efficient care to patients, every day.

Pending successful completion of outstanding items required for closing, the acquisition is expected to be complete later this summer. Terms of the agreement were not made available.

About Lakeway Regional Medical Center
Lakeway Regional Medical Center (LRMC) is a state-of-the-art medical campus dedicated to the delivery of world-class healthcare. LRMC provides services in emergency medicine, neurosurgery, orthopedics, neurology, cardiology, general surgery, gastroenterology and women's health. For more information about LRMC, visit LakewayRegional.com or call 512-571-5000.

About Baylor Scott & White Health
Formed from the 2013 merger between Baylor Health Care System and Scott & White Healthcare, the system referred to as Baylor Scott & White Health is the largest not-for-profit health care system in the state of Texas. With total assets of $9 billion* and serving a population larger than the state of Georgia, Baylor Scott & White Health has the vision and resources to provide its patients continued quality care while creating a model system for a dramatically changing health care environment. The system now includes 46 hospitals, more than 900 access points, 6,000 active physicians, and 44,000 employees, plus the Scott & White Health Plan, Baylor Scott & White Research Institute and Baylor Scott & White Quality Alliance — a network of clinical providers and facilities focused on improving quality, managing the health of patient populations, and reducing the overall cost of care. For more information visit: BaylorScottandWhite.com

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