Our solid balance sheet, strong cash flows and ample liquidity allow us to make strategic investments to improve our performance. While we are maintaining our focus on being the sole provider in smaller communities we are seeking to grow strategically through selective acquisitions and move into faster growing markets with a more diversified employer base and a favorable payer mix.
Our most recent acquisitions Clark Regional and HighPoint Health System continue to contribute to our earnings growth and to demonstrate significant long-term potential. Clark Regional will not move into its new facility until the first half of 2012, but still, already the hospital achieved high single-digit margins in the quarter.
HighPoint has improved to low double-digit margins since we acquired it. We expect to see further significant improvement from these acquisitions, once Clark makes its move and additional market opportunities are realized at HighPoint.
More recently, our innovative partnership Duke/LifePoint Healthcare has made several announcements. We acquired Person Memorial hospital in Roxboro, North Carolina. On Monday, we expect to close our acquisition of Maria Parham Medical Center in Henderson, North Carolina.Earlier this week, we announced that we signed a memorandum of understanding to acquire Twin County Regional Healthcare in Galax, Virginia. This would be the first acquisition in Virginia as a part of the Duke/LifePoint partnership and we look forward to working with Twin County to finalize this potential transaction.Combined, these three acquisitions would represent approximately $180 million in annual revenue. These together with our purchase of the North Carolina Cardiac cath labs, and CONs in the second quarter, illustrate the significant progress we’ve made since our partnership with Duke was formed earlier this year.The momentum we’ve experienced validates the vision we have for Duke/LifePoint and demonstrates the unique option we offer in today’s healthcare market. Of course, we continue to pursue acquisition opportunities outside of Duke/LifePoint. Our pipeline is very active, driven by the hard work of our development team.
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