GP Medical Ventures facility defaults on lease

Houston Town & Country Hospital, the first full-service hospital opened by Nashville-based GP Medical Ventures, has apparently defaulted on its lease, less than a year after opening.

According to a story in the Houston Chronicle, the facility, which was run by GPMV vice president Teresa Danna, had trouble obtaining managed care contracts and lacked the working capital to absorb the losses. In addition, the failure is attributed to a lack of top flight physicians at the facility and too few well-reimbursed procedures to make the hospital an economically viable entity.GPMV currently runs a number of surgery centers in the southeast. But the company hasn't given up on hospitals yet. Currently it is working on a new hospital project in Houston and is also leading a group of 54 Birmingham physicians attempting to purchase Carraway Methodist Medical Center.