Methodist Health System agreed to pay $9 million for the hospital operator’s assets and will assume $8.6 million in debt. MHS will own a 51 percent stake in the hospital operation, with the physician investors retaining the other 49 percent.
The agreement and sale were approved by the U.S. Bankruptcy Court for the Northern District of Texas on May 16.
Methodist Southlake Hospital is a multispecialty facility focused on the delivery of advanced surgical and procedural care and quality patient outcomes. The hospital offers treatment options in several specialties, including bariatrics, orthopedic and spine surgery, plastic surgery, urology, gastroenterology, endoscopy, otolaryngology, gynecology, pain management, general surgery, hand surgery, neurosurgery, breast surgery and podiatry.
These services are offered in the 142,000-square-foot hospital featuring 54 private inpatient rooms, 10 family suites, six intensive care rooms and 12 suites.
“From the moment we first met with the board, physicians and staff, we knew this was a truly special medical center,” MHS President and CEO Stephen L. Mansfield said. “We were very impressed with the community of Southlake and recognize it is a growing, thriving city that cares about its people. Methodist Health System feels very privileged to partner with Methodist Southlake Hospital as it continues to offer world-class service to its patients.”
To facilitate the acquisition, MHS partnered with NueHealth, a consumer-focused health care company with a mission to create affordable care opportunities through provider networks that NueHealth develops and integrates.
“Methodist Southlake Hospital and the Methodist Health System are a perfect fit because our core beliefs and values naturally align,” said Robert Pollard, Methodist Southlake Hospital board president. “Our focus on delivering the greatest patient care available is strengthened under the leadership of Methodist Health System. As a result, the transition into the Methodist system will be seamless for our hospital staff and our physicians, but most importantly to our patients.”
Forest Park Medical Center facilities throughout the state were recently sold to other entities. In April, FPMC in Frisco was sold to Hospital Corporation North Texas. In May, St. David’s HealthCare announced plans to purchase the unopened FPMC building in Austin for $115 million as part of a larger expansion in the region.
