Forest Park Medical Center Fort Worth to Be Sold in Foreclosure

by San Antonio Attorney

Forest Park Medical Center located in Fort Worth Texas, is now facing foreclosure.   The luxury hospitals owned by doctors have been financially strapped.

The hospital was placed on sale in November by Sabra Texas Holdings, part of the Sabra Health Care REIT of Irvine, California.

This happened after Forest Park Fort Worth wasn’t able to achieve the interest payment of $66.8 million construction loan, according to court documents and company officials.

The proposed sale is due on Dec. 1 unless the proprietors of Forest Park Medical Center can figure out how to make a cease and desist order.

The Fort Worth branch is the last in the chain of hospitals in Dallas to face foreclosure, sued for loan problems or file a bankruptcy case.  Two hospital branches in Dallas and San Antonio have already closed.

The Fort Worth hospitals boasts a facility that provides the patients a more pleasant ambiance, along with natural lighting, interior décor with mood lighting and private rooms.

The facility targeted more high-end patients with private insurance and excluded Medicare or Medicaid as a medical coverage under the Affordable Care Act.

This move apparently damaged the economic status of Forest Park since the healthcare law prohibited the hospitals from using Medicaid and Medicare, said Rick Matros, Sabra’s CEO and chairman.

Sabra Health Care REIT has invested $284.4 million in the Forest Park chain of hospitals and is slowly dispensing those assets.

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