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Methodist Health completes takeover of bankrupt Texas hospital

A judge has signed off on Dallas-based Methodist Health's purchase of bankrupt Forest Park Medical Center's campus in Southlake, Texas, according to the Star-Telegram.

According to court documents, Methodist offered to pay $9 million for the hospital operator's assets and to take on $8.6 million in debt. Methodist owns a 51 percent stake in the hospital, with the physician investors retaining the other 49 percent, according to the report.

With the transaction completed, the facility has been renamed Methodist Southlake Hospital.

Forest Park is selling off its facilities one by one. Last week, Arlington-based Texas Health Resources pledged $116.5 million to buy Forest Park Medical Center's campus in Forth Worth, Texas. An Austin, Texas-based system, of which Nashville, Tenn.-based HCA Holdings is the majority owner, agreed to purchase Forest Park's yet-to-open hospital in Austin for $115 million. HCA also acquired Forest Park's hospital in Frisco, Texas

More articles on healthcare industry transactions:

Dollar value of hospital M&A falls 67% in Q1
11 latest hospital transactions and partnerships
Sale of shuttered Texas hospital finalized

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