Natchez Regional in Mississippi Emerges From Bankruptcy

Natchez (Miss.) Regional Medical Center will make its final payment to creditors next week, meaning the 179-bed hospital is now free from Chapter 9 bankruptcy, according to a Natchez Democrat report.

The hospital filed for bankruptcy in February 2009 and came after the hospital's board fired its former management company, Brentwood-Tenn.-based Quorum Health Resources. NRMC also sued QHR in December 2009, as well as the former CEO and CFO provided by the management company, for $46 million in damages for negligence, breach of fiduciary duties, fraud and other wrongful acts allegedly committed in 2006 and 2007.

NRMC posted a profit of $161,407 this fiscal year, and it expects net income in FY 2013 could reach almost $1 million if the legal fees associated with the QHR lawsuit are cleared, according to the report.

More Articles on Hospital Bankruptcy:

Bankruptcy Forces Colorado-Fayette Medical Center in Texas to Close

Shuttered Sheehan Health in New York Files for Chapter 11 Bankruptcy

Court Approves Sale of Bankrupt Medical Park Hospital to IASIS

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