Bowie (Texas) Memorial Hospital closed Nov. 16, but the financially troubled hospital will reopen, as its board members have voted to enter into a sales contract with Houston-based Royce D. Brough Group, according to a Times Record News report.
Here are five things to know about the sale.
1. The board approved a $1.5 million sales contract.
2. Under the sales contract, Royce D. Brough Group will purchase the hospital building, all real estate, furniture, fixtures, equipment and assets, excluding mineral leases, cash and accounts receivable, according to the report.
3. The sale is expected to close on or before Jan. 20, as long as all contract requirements are met.
4. Once the sale is complete, Royce D. Brough Group intends to reopen the facility as a for-profit hospital.
5. Royce D. Brough Group wasn't the only bidder that sought to buy Bowie Memorial after its closure. Texas General Hospital, with locations in Grand Prairie and Grand Saline, also sought to buy Bowie Memorial, also made a bid, according to the report. However, Bowie Memorial board members voted to enter into negotiations with Royce D. Brough Group.
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