Pennsylvania hospital closer to resolving debt issues

Ellwood City (Pa.) Medical Center has made headway in resolving debt issues with Penn Med, a Hilton Head, S.C.-based lender, according to The Times.

The newspaper reported that Penn Med withdrew its $5.23 million judgment against the medical center and its owner because some of the debt had been satisfied. A specific amount was not provided.

Penn Med initially filed the judgement in April, claiming that Ellwood and its owner, Fort Lauderdale, Fla.-based Americore Health, owed money for a $4.5 million loan in 2017, according to The Times. As a result, Penn Med became the mortgage holder on the medical center.

The medical center has struggled financially and was plagued by payroll troubles earlier this year. 

 

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