Fort Worth’s Forest Park Medical Center is likely to be sold in foreclosure next week, following the financial problems of the management company for the physician-owned hospital chain.
In a conference call reporting its third-quarter revenues, Sabra Health Care REIT, Forest Park Medical Center’s lender, said it plans to sales both the Dallas and Fort Worth hospitals in foreclosure auctions.
The Dallas hospital is no longer operating, but the Fort Worth one is, though calls to the operators of the Fort Worth hospital have not been returned.
In a transcript of the conference call from Reuters, Harold Andrews Sabra Health CFO said the company’s investment in Forest Park Fort Worth is $61 million via construction loan secured by the campus, the nearby medical office building and a parking garage.
Sabra officials said on the conference call they may purchase the facilities in foreclosure and then install a new operator.
Forest Park Medical Center first opened in Dallas in 2009, then opened the Fort Worth location last year in the new Clearfork development. There were also locations in Southlake, Frisco and San Antonio. The Frisco and San Antonio locations have also closed.
The Fort Worth location is a 54-bed acute care hospital, developed by the Neal Richards Group of Dallas. – Robert Francis, rfrancis@bizpress.net