Gilmore Memorial Hospital is part of Knoxville, Tenn.-based Curae Health, which entered Chapter 11 bankruptcy protection in August. NMHS is expected to acquire Gilmore Hospital from Curae on Dec. 31.
“As part of this transaction, NMHS will acquire the land, plant, property and equipment of Gilmore, including the inventory on hand,” Shane Spees, president and CEO of NMHS, told the Daily Journal. “NMHS will be assuming a property lease on a Medical Office Building located adjacent to the hospital for $3.3 million. All other debt will be discharged as part of the bankruptcy.”
More articles on healthcare industry transactions:
South Carolina health system OKs acquisition of 4 hospitals from CHS
Rennova to expand footprint with acquisition of Tennessee hospital
California DOJ approves CHI-Dignity merger, with conditions
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