Methodist Health System announced May 17 that they have taken ownership of Forest Park Medical Center at Southlake. The hospital's name has been changed to Methodist Southlake Hospital.
The agreement and sale were approved by the United States Bankruptcy Court for the Northern District of Texas on May 16.
Methodist Health System agreed to pay $9 million for the hospital operator’s assets and will assume $8.6 million in debt. Methodist will own a 51 percent stake in the hospital operation, with the physician investors retaining the other 49 percent.
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 (ENT), 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 advanced, fully integrated operating suites.
“From the moment we first met with the board, physicians and staff, we knew this was a truly special medical center,” said Stephen L. Mansfield, president and CEO of Methodist Health System. “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, Methodist Health System partnered with NueHealth, a consumer-focused healthcare company with a mission to create accessible, affordable care opportunities through provider networks that they develop and integrate.
“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 and
renamed Medical City Frisco. 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.