Natchez Regional Medical Center sale, bankruptcy costs upward of $1.6M

Professional fees surrounding the sale and bankruptcy proceedings of Natchez (Miss.) Regional Medical Center have totaled almost $1.6 million as of mid-August, according to a Natchez Democrat report.

A document circulated at a recent Natchez Regional Medical Center board meeting details just how much all of the proceedings cost in professional fees.

The fees, which began last year, include about $730,198 to sales consultant firm Healthcare Management Partners, $408,925 to Butler Snow law firm, $152,247 to The Horne Group, $103,156 to NRMC lead bankruptcy attorney Eileen Shaffer and $99,674 to NRMC board attorney Walter Brown, according to the document, obtained by the Natchez Democrat.

Adams County Board Supervisor Mike Lazarus complained that HMP's fees were far too high. HMP managing director Scott Phillips responded, saying the charges Mr. Lazarus alleged were incorrect and much higher than the fees actually charged, according to the report.

After filing for Chapter 9 bankruptcy in February, Natchez Regional signed a definitive agreement to allow Community Health Systems, based in Franklin, Tenn., to acquire the medical center's assets for a price tag of $18 million in July. Then, in August, Natchez Regional announced a 10 percent pay cut for all employees and managers including a salary reduction of 20 percent for some upper and middle management level employees.

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