The U.S. Department of Housing and Urban Development has accepted a $50 million bid from Nashville, Tenn.-based MedEquities Realty Trust for Lakeway (Texas) Regional Medical Center's $164 million defaulted hospital mortgage, according to an Austin American-Statesman report.
The note was auctioned off last month, according to the report.
Frank Sossi, interim acting chairman of the Lakeway Regional Medical Center board, told the Austin American-Statesman that under the deal, MedEquities, a healthcare investment company, will own and lease the hospital.
Lakeway Regional was not attracting enough patients shortly after it opened in 2012, and such issues resulted in cash problems, and ultimately, a default on the hospital's loan in 2013, according to the report.
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