Source: Bankruptcy Ahead For Walnut Hill Medical Center

Walnut Hill Physician’s Hospital, the entity that owns Walnut Hill Medical Center in Dallas, plans to file for Chapter 7 bankruptcy as soon as this week, a top executive with WHMC told D CEO Healthcare Monday.

The independent, $100 million hospital is owned by Nashville-based Surgical Development Partners, a healthcare service provider, and Houston-based Medistar Corp., a real estate development firm for medical facilities.

The disclosure follows the abrupt shuttering of the WHMC facility on June 1. Natalie Weeks, a WHMC spokesperson, confirmed in a statement to D CEO Healthcare that operations at the hospital had ceased.

The WHMC executive who disclosed the planned bankruptcy filing requested anonymity. Under Chapter 7 of the bankruptcy code, businesses liquidate their assets in order to pay off their obligations to creditors.

The independent, $100 million Walnut Hill Medical Center, which opened in 2014, officially closed one month after its third anniversary. The hospital was known for its luxurious design, focus on cardiology, high-end medical technology, and cream-of-the-crop staff.

Posted in News.