Nu-Med Sells Hospital in Texas for $20 Million
Nu-Med Inc., an Encino operator of acute and psychiatric care facilities, said it sold Doctors Hospital, a 106-bed acute care facility in Groves, Tex., for $20 million in cash and notes. Nu-Med did not identify the buyer.
The Encino company will use the cash proceeds from the sale to pay mortgage debt and other debts on the Texas facility. The sale will also result in a gain to be included in the company’s results for the fourth quarter that ends today.
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