HOUSTON—The Episcopal Diocese of Texas has approved today a definitive agreement for the transfer of St. Luke's Episcopal Health System to Catholic Health Initiatives, a nationally recognized health care system.

As part of the transfer of St. Luke's, CHI will contribute more than $1 billion to create a new Episcopal Health Foundation, which will focus on the unmet health needs of the area's underserved population. In addition, CHI has committed an additional $1 billion for future investment in the health system. The Right Reverend C. Andrew Doyle, Bishop of the Episcopal Diocese of Texas, said in announcing the decision, “We are humbled to be able to preserve the legacy of St. Luke's, while also expanding the Diocesan commitment to health care."

The name of the system will be the St. Luke's Health System. The transaction is expected to be completed early this summer, subject to obtaining required regulatory approvals. The Agreement includes the entire Health System: the Texas Medical Center campus, as well as suburban hospital locations in The Woodlands, Sugar Land, Pasadena and The Vintage. CHI has committed to maintain all current physician models and all employees will continue to be employed by St. Luke's. In addition, CHI will continue to grow and enhance St. Luke's significant affiliations with Baylor College of Medicine, Texas Heart® Institute, Kelsey-Seybold Clinic, Texas Children's Hospital and MD Anderson Cancer Center.