The Regional Medical Center of Orangeburg (S.C.) & Calhoun Counties is hoping to recover a portion of the $500,000 it invested with Ponzi-schemer Bernie Madoff, according to a Times and Democrat report.
The investment with Madoff was part of the 286-bed hospital’s pension fund. RMC has hired a consultant to recover the lost funds and the hospital is not directly involved in the process.
The hospital’s finance committee chairman said it may be months until the hospital knows the exact amount of money it can recover, and he doesn’t think it will be a tremendous amount, according to the report.
The hospital is following up with its pension fund management group, Strategic Investment Group, about specifics, according to the report.
Read the Times and Democrat report on Regional Medical Center’s investment with Bernie Madoff.
Read more about hospital finances:
– Judge Orders California’s Marin General to Settle With Sutter Health Over Merger
– Texas Physician-Owned Hospital Gets Medicare Okay Three Days Before Ban Begins
– Pennsylvania’s St. Mary’s Medical Center Pays $3.3M to Settle Improper Billing Claims
