Marshalltown-based Central Iowa Healthcare, which includes a 49-bed acute care hospital, an outpatient center and four primary care clinics, filed for Chapter 11 bankruptcy Tuesday.
As part of its bankruptcy filing, CIH submitted a plan to sell the bulk of it assets to UnityPoint Health-Waterloo (Iowa), an affiliate of West Des Moines, Iowa-based UnityPoint Health. CIH expects the transaction to close in the first quarter of 2017.
UnityPoint Health-Waterloo has offered to financially support CIH's operations during the pending sale and throughout the bankruptcy case.
CIH said it will continue to operate as normal during the bankruptcy case and after the transaction closes. Once the transaction is finalized, CIH encourages its employees to seek employment with the new UnityPoint Health team.
The Chapter 11 case is pending in U.S. Bankruptcy Court for the Southern District of Iowa.
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