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Sale approved for shuttered Texas hospital

Bowie (Texas) Memorial Hospital board members signed a contract to sell the facility to Hashmi Group for $1.5 million, according to a KAUZ news report.

Bowie Memorial, which closed last November, accepted Hashmi Group's takeover bid in February.

With the sale contract signed, Hashmi Group plans to reopen the hospital under a new name: Central Hospital of Bowie.

Regarding the transaction, Hasan Farid Hashmi, MD, of Hashmi Group, said, "Our aim is not just to restart the hospital, but to advance to a point that it becomes a regional center."

The transaction is expected to close May 16.

More articles on healthcare industry transactions:

Capella, RegionalCare to merge into new $1.7B company: 10 things to know
5 recent healthcare transactions and partnerships
Atlantic Health System expands reach in New Jersey

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