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.
More articles on healthcare finance:
For-profit hospital stock report: Week of Aug. 12-16
ICD-10-PCS changes: 20 codes added for FY 2020
ICD-10-PCS changes: 20 codes deleted for FY 2020
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
