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Texas Health Resources casts highest bid for bankrupt Fort Worth hospital

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Arlington-based Texas Health Resources has pledged $116.5 million to buy Dallas-based Forest Park Medical Center's campus in Forth Worth, Texas.

Forest Park Medical Center's network of six physician-owned facilities fell into financial trouble in 2015 and filed for Chapter 11 bankruptcy in early 2016.

Texas Health Resources outbid Dallas-based Methodist Health to take over the Fort Worth facility. The transaction is expected to close by the end of May, according to the Dallas Business Journal.

With the addition of the Fort Worth hospital, Texas Health Resources will have 27 acute care and short-stay hospitals throughout the state.

Forest Park is selling off its facilities one by one. Earlier this week, 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 in April.

More articles on healthcare industry transactions:

UVM Health Network adds another NY hospital
So many M&A deals collapse because leaders neglect this simple strategy
Allina Health to merge 2 hospitals

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