Trinity Regional Hospital receives court approval of bid procedures

By Sarah Lizee

Olympia, Wash., Sept. 27 – Sunland Medical Foundation, which does business as Trinity Regional Hospital Sachse, received approval of bid procedures for its assets, according to an order filed Wednesday with the U.S. Bankruptcy Court for the Northern District of Texas.

As previously reported, the debtor operates a not-for-profit, 32-bed, community-focused acute-care hospital in Texas that opened in November 2021.

The debtor also received approval to choose a potential stalking horse bidder. Bid protections would include a breakup fee of up to 2% and an expense reimbursement of up to $300,000.

The timeline under the bid procedures includes an Oct. 12 stalking horse interest deadline, an Oct. 16 stalking horse announcement deadline, a Nov. 13 qualified bid deadline, a Nov. 15 auction and a Nov. 29 sale hearing.

The debtor is hoping to close the sale by Jan. 29.

The Sachse, Tex.-based hospital filed bankruptcy on Aug. 29 under Chapter 11 case number 23-80000.

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