Oklahoma City-based Foundation HealthCare, which owns and operates surgical hospitals, has acquired 69-bed University General Hospital in Houston, which filed for chapter 11 bankruptcy protection in 2015.
Foundation purchased UGH for $33 million in a court-approved sale. With the transaction completed, UGH will be immediately rebranded as Foundation Surgical Hospital of Houston.
"Our executive team has over 20 years of experience working with the physicians in the Houston market," said Foundation CEO Stanton Nelson. "We look forward to working with our many physician friends as we execute our proven growth strategy at this hospital."
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