Trinity Regional Hospital names Columbia Medical Center winning bidder

By Sarah Lizee

Olympia, Wash., Nov. 28 – Sunland Medical Foundation, which does business as Trinity Regional Hospital Sachse, named Columbia Medical Center of Plano Subsidiary, LP the winning bidder for its assets in a notice filed Monday 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.

A sale hearing is scheduled for Nov. 29.

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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