HOPE — The financially troubled Medical Park Hospital officially becomes Wadley Regional Medical Center at Hope on Wednesday.

Wadley’s parent company bought the hospital after the sale was approved by a bankruptcy court.

Tom Gilbert will assume chief executive duties for the Hope facility. He told Shreveport television station KSLA that the change came just two weeks after the bankruptcy court’s approval. Gilbert said the hospital staff looks forward to providing high-quality health-care services to the community.

Earlier this year, the hospital couldn’t afford to pay its vendors or pay its employees. Wadley lent nearly $1.3 million to keep the facility open.