The distressed hospital filed for chapter 11 bankruptcy protection in November 2014 in hopes of restructuring debt to stabilize the organization and ensure long-term viability. However, without enough cash flow to support itself, the hospital was forced to close Dec. 4.
After its closure, questions were raised regarding whether the hospital’s license would be voided Dec 14. Because Hutcheson Medical Center was built more than 60 years ago, if its license had expired it would not meet current code requirements and its closure would have been permanent, according to the report.
However, a last-minute deal was reached for ValorBridge, which is affiliated with Atlanta-based ApolloMD, to purchase the hospital for $4.2 million. A judge approved the deal on Monday.
With the sale approved, Walker County attorney Don Oliver said he expects the hospital to reopen Dec. 18, according to the report.
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