Trinity Regional Hospital gets OK to sell assets to Columbia Medical

By Sarah Lizee

Olympia, Wash., Dec. 1 – Sunland Medical Foundation, which does business as Trinity Regional Hospital Sachse, received approval to sell its assets to Columbia Medical Center of Plano Subsidiary, LP, according to an order filed Friday 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.

At closing, the total consideration to be paid by Columbia Medical Center, in addition to assumed liabilities, will be $41 million in cash, minus a $4.1 million deposit, plus cure amounts for assumed contracts, plus payment of (or securing the release or full satisfaction of) $1.1 million in administrative expenses associated with executory contracts, plus $62,000 per day for each calendar day after Dec. 15 through and including the closing date.

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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