Under the agreement, RegionalCare will pay off Coffee’s $140 million debt and construct a new hospital in the area. RegionalCare has agreed to begin the certificate of need process for the new facility as soon as the agreement is finalized, according to the report.
The sale is now awaiting approval of county and city councils, both of which have final authority over the properties.
Read the Times Daily’s report on Coffee Health Group.
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
