Green Valley (Ariz.) Hospital is changing leadership as it prepares to emerge from bankruptcy, according to a Green Valley News report.
Here are six things to know about the bankruptcy and leadership change.
1. GVH, a 49-bed hospital, initially filed for Chapter 11 bankruptcy in April 2017. In January 2018, equity firm Lateral GV submitted the winning bid for the bankrupt hospital.
2. The hospital is likely to emerge from bankruptcy by the end of the month, said John Matuska, the hospital's outgoing CEO, according to the report.
3. Once GVH does emerge from bankruptcy, Lateral GV is expected to take over ownership, the report states.
4. Lateral GV has brought in ERH, a Sandy, Utah-based company that helps turn around distressed and underperforming hospitals.
5. Kelly Adams, founder and partner of ERH, is slated to replace Mr. Matuska after the hospital emerges from bankruptcy, according to the report. Mr. Adams' prior roles include CEO of Las Vegas-based Sana Behavioral Health Hospital and CEO of Desert View Hospital in Pahrump, Nev.
6. Mr. Adams was optimistic about the hospital's future in an interview with the Green Valley News. He told the publication he aims to get physicians to spend more time at the hospital campus to increase local access for patients.
"The watchword is 'add' services. It's like a Tetris game. You're kind of building one block on top of the other and then pretty quick you have a greater foundation," Mr. Adams said. "The things that John and his team have done, what we do is we take that and grow it more. We see this as just a gem."
Read the full report here.
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