Salt Lake City-based financial organization Argenta Group would take out a loan to finance KMC under the deal. Clark County would create a lease with Argenta and then sublease it to the hospital’s operators, according to the report.
While the letter was approved and sent to the county council with a favorable recommendation, there were other conditions of the deal. These included that Clarksville would receive a portion of KMC’s property tax, a research center would be constructed in the county within three years and interest payments made to the county total $250,000, according to the report.
KMC filed for Chapter 11 bankruptcy in Sept. 2010, and it has been trying to restructure its debt since then.
Related Articles on Physician-Owned Hospitals:
55% of Physician-Owned Hospitals Would Expand if Section 6001 Was Axed
Proposal to Restructure Debt at Bankrupt Kentuckiana Medical Center Under Consideration
Indiana Hospital’s President, Physician Owners Sued by Former Operator
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
