May 13, 2016
St. David’s to buy North Austin luxury hospital
AUSTIN - St. David’s HealthCare will buy Forest Park Medical Center’s yet-to-open Austin hospital for an amount equal to $115 million.The Dallas-based company that owns Forest Park filed for Chapter...
AUSTIN – St. David’s HealthCare will buy Forest Park Medical Center’s yet-to-open Austin hospital for an amount equal to $115 million.
The Dallas-based company that owns Forest Park filed for Chapter 11 bankruptcy early this year.
The hospital sat empty for more than a year at the corner of I-35 and the Texas SH 45 toll road near Round Rock.
It was part of the luxury, physician-owned Forest Park Medical Center system of six hospitals that all separately filed for bankruptcy.
Todd Furniss, chairman of the management company for the Forest Park chain, said he expects to get court approval May 13, 2016, and close the transaction with St. David’s on the same day.
St. David’s is owned by Hospital Corporation of America, St. David’s Foundation and the Georgetown Health Foundation.
See Austin Medical Office MarketWatch Mar. 2016 (PDF) or visit Austin Market Research under Medical.
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