A medical center outside of Houston announced it will close this week, less than four years after opening its doors.
Bay Area Regional Medical Center, which describes itself as an integrated multispecialty healthcare delivery system, will close on May 10 and file for bankruptcy.
"It is with a heavy heart that I announce that Bay Area Regional will close its doors on May 10, 2018," Bay Area Regional CEO Stephen Jones Jr. said in a statement late last week. "We want to thank our staff who worked tirelessly, physicians who chose to practice medicine and patients who received care at our hospital."
Bay Area Regional is a for-profit hospital owned by Medistar Corp.
The company continues to work with lenders to ensure an orderly closing process, including meeting its payroll obligations. Bay Area Regional opened in July 2014, and has invested $200 million on construction and operations over the past five years. The medical center is located in the small city of Webster, about 24 miles southeast of Houston. Regional Medical has approximately 500 physicians and more than 500 employees, according to its website.
A Bay Area Regional spokesman did not immediately return a call seeking comment.