Newspaper article THE JOURNAL RECORD

Foundation HealthCare Sells Interest in Texas Hospital

Newspaper article THE JOURNAL RECORD

Foundation HealthCare Sells Interest in Texas Hospital

Article excerpt

OKLAHOMA CITY - Foundation HealthCare Inc., which owns and operates surgical hospitals, sold its interest in Heritage Park Surgical Hospital in Sherman, Texas.

Grayson County Physicians Property LLC, an entity in which Foundation indirectly owns a 20-percent interest, sold the real estate and hospital building. Foundation sold its interest in the hospital's operation in June.

Foundation received $3.7 million from the sale and expects an additional $150,000 to be released from escrow within the next 12 months. The gain on the sale is $3.3 million before taxes. Foundation will use $2.8 million of the proceeds to reduce long- term debt, the company said in a press release.

Foundation, working with physicians in the Sherman, Texas market, developed and constructed Heritage Park Surgical Hospital, which opened in 2010. …

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