- Associated Press - Tuesday, September 30, 2014

NATCHEZ, Miss. (AP) - U.S. bankruptcy Judge Neil Olack says he will approve the sale of Natchez Regional Medical Center.

With the close of the sale, ownership of the hospital will pass from Adams County to Community Health Systems, the national health care giant that is purchasing the financially beleaguered county-owned hospital for $10 million.

The Natchez Democrat reports (https://bit.ly/1vstGWH) the purchase agreement also requires CHS to pre-pay $8 million in ad valorem taxes.

Adams County has agreed to finance the sale with a $3 million loan to cover costs at closing that the sale package with CHS won’t cover.

Kenneth King, vice president of acquisitions for CHS, said the company has agreed to retain all but five hospital employees.

NRMC filed for bankruptcy in March, the second time in five years.


Information from: The Natchez Democrat, https://www.natchezdemocrat.com/

Copyright © 2018 The Washington Times, LLC.

The Washington Times Comment Policy

The Washington Times is switching its third-party commenting system from Disqus to Spot.IM. You will need to either create an account with Spot.im or if you wish to use your Disqus account look under the Conversation for the link "Have a Disqus Account?". Please read our Comment Policy before commenting.


Click to Read More

Click to Hide