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.
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