Lifebrite is a for-profit hospital management organization in Lilburn, Ga. Under the agreement, Lifebrite has agreed to make a one-time payment of $400,000 to Pioneer and assume $1.3 million in Medicare obligations, according to court documents obtained by Winston-Salem Journal.
“The agreement allows the hospital to remain open as a valuable provider of healthcare services to a needy community,” said court documents.
The court will reconvene Aug. 9 to decide Lifebrite’s offer to buy Pioneer’s hospital assets in Stokes from Magee, Miss.-based Pioneer Health Services.
PHS filed for Chapter 11 bankruptcy protection March 31.
More articles on finance issues:
CMS to withdraw Medicare funding for Texas psychiatric hospital
New physicians enrolling in debt forgiveness program
7 quick facts about Medicare spending
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
