Austin, Texas-based Seton Family of Hospitals has dropped plans to acquire 150-bed King's Daughters Hospital, a distressed hospital in Temple, Texas, according to a report by the Austin Business Journal.
A Seton representative said the organization had decided that deterioration of the hospital's assets made the acquisition financially untenable.
King's Daughters has been put up for sale by Temple-based Scott & White Healthcare, which acquired the hospital under a merger but was prohibited by the Federal Trade Commission from keeping it due to antitrust concerns.
Read the Austin Business Journal's report on King's Daughters Hospital.