Nashville, Tenn.-based HCA Holdings has inked a deal to purchase Forest Park Medical Center – Frisco (Texas) from Sabra Health Care REIT.
Dallas-based Forest Park Medical Center's network of physician-owned facilities fell into financial trouble in 2015, and the system's Frisco hospital filed for Chapter 11 bankruptcy protection last September.
This week, Sabra along with the hospital's operator agreed to sell their respective interests in the 54-bed Frisco facility to a subsidiary of HCA for $96.25 million. HCA is paying Sabra cash for the hospital, and the deal is expected to close by the end of March. A bankruptcy court hearing is scheduled for Feb. 18 to approve the transaction.
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