The bond agreement, which was approved by the Baldwin County Hospital Authority, would go toward day-to-day operations over the next approximately three months, Steven Johnson, ORMC interim CEO, said in the report.
“This is really additional working capital to get us through the transaction of a possible sale of the hospital,” he told The Union-Recorder this week. “Hopefully we don’t have to use all $5 million, but it’s there in the event we have to use it.”
The hospital did not disclose the names of any potential buyers to The Union-Recorder.
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