Texas hospital forced to close gets potential lifeline

Bowie (Texas) Memorial Hospital closed Nov. 16, but the financially troubled hospital may reopen.

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The Bowie Memorial Hospital board has received two bids to purchase and reopen the hospital. The board has entered negotiations with Houston-based Royce D. Brough Group, which intends to reopen the facility as a for-profit hospital.

In its letter of intent, Brough Group offered to assume $1.44 million in liabilities.

More articles on healthcare industry transactions:

Calif. AG conditionally approves sale of 6 nonprofit hospitals to hedge fund
Kaiser to acquire Group Health in $1.8B deal: 5 things to know
25 hospital transactions and partnerships in November

 

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