The sale is expected to close in June. Until then, Down East Community Hospital will manage Calais Regional.
The bankruptcy judge’s approval comes after a year and a half of court proceedings. Calais Regional filed for Chapter 11 bankruptcy in September 2019 after posting losses for years. At the time of the bankruptcy filing, the 25-bed hospital owed about $25 million to 1,900 creditors.
Downeast Community Hospital said it had been looking to purchase Calais Regional for several months and worked with many of Calais hospital’s creditors on the acquisition plan.
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