An Austin, Texas-based system, of which Nashville, Tenn.-based HCA Holdings is the majority owner, will purchase Dallas-based Forest Park Medical Center's yet-to-open hospital in Austin for $115 million.
Forest Park Medical Center's network of six physician-owned facilities fell into financial trouble in 2015 and filed for Chapter 11 bankruptcy in early 2016.
In April, HCA completed its acquisition of Forest Park's hospital in Frisco, Texas. The 54-bed hospital is now named Medical City Frisco and part of Irvine-based HCA North Texas.
Now, HCA will buy Forest Park's hospital in Austin, which has sat vacant for more than a year. Todd Furniss, chairman of the management company for the Forest Park chain, told the Dallas Business Journal that he expects to close the transaction Friday.
"The bottom line is HCA is excited about the prospect of opening the facility," Mr. Furniss told the Dallas Business Journal. "They will be working with the local doctors who are part of the operating company, and they are moving forward briskly."
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