The $145 million deal includes a commitment of $9 million in working capital. Sumner announced its sale to Lifepoint only days after it filed for Chapter 11 bankruptcy in April.
Sumner Regional has asked the county to drop its appeal. Points of contention include compensation for land the county transferred to the health system in 2004 and the continuation of free care for county inmates, according to the report. If the transaction is not completed by July 31, LifePoint has the option of walking away from the deal — a scenario the health system would like to avoid.
County officials have said they don’t want to block the deal, but just want to ensure the county is compensated. The Tennessee Attorney General is yet to weigh in on the deal. A decision is expected on July 30.
Read the Nashville Post’s report on Sumner Regional Health System.
Read more Becker’s coverage on Sumner Regional Health System.
–LifePoint Hospitals to Acquire Tennessee’s Sumner Regional Health Systems for $145M
–Tennessee Health System SVP Resigns
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