Hospital officials said the “unwanted, yet unavoidable,” decision was made due to an unsuccessful search for a strategic partner, lack of interest from potential buyers and a more than $37 million operating loss over the last two years.
The hospital’s president and CEO Daniel Dunmyer also placed blame on a local competitor’s alleged violations of the anti-kickback and Stark law.
If the medical center remains closed, more than 750 employees will lose their jobs, according to a news release.
Ohio Valley Medical Center was initially slated to close Oct. 7.
More articles on healthcare finance:
CEO exits amid Tennessee health system’s financial troubles
New York hospital campus to close in October
CHS shares sink again
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