Shuttered Texas hospital accepts $1.5M takeover bid

A bid has been accepted for Bowie (Texas) Memorial Hospital more than three months after the facility closed.

Bowie Memorial closed last November. The hospital board had hoped to save the facility through the creation of a new hospital district, but the measure was nixed Nov. 3, 2015, when 53 percent of voters turned down the tax district.

Bowie Memorial's situation began to look up in December, when the board received two bids to purchase and reopen the hospital. The board entered into negotiations with a Houston-based company, but the deal fell through less than a month later. With resources diminishing, the hospital board set a sale deadline of Feb. 15.

Hospital authority directors accepted a $1.5 million bid last week from Hasan Farid Hasmi, MD, for the purchase of Bowie Memorial, according to the Times Record News. Hospital officials expect to complete the transaction with Dr. Hasami March 4.

Bowie Memorial CEO Lynn Heller told the Times Record News he expects it to take at least 60 days for the hospital to reopen once the transaction is completed.

More articles on healthcare industry transactions:

Another hospital deal, another fight between Prime and SEIU
26 hospital transactions and partnerships in January
Why big hospital transactions were scarce in 2015

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