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Georgia AG approves sale of bankrupt hospital to Navicent Health subsidiary

The State of Georgia Office of the Attorney General approved the proposed sale of Oconee Regional Medical Center in Milledgeville, Ga., to a subsidiary of Macon, Ga.-based Navicent Health Aug. 21, according to The Union-Recorder.

The proposed agreement includes the sale of Oconee Regional and its assets, including those owned by various other entities, to Macon-based Navicent Health Oconee, according to sale approval documents from the state AG's office obtained by The Union-Recorder.

Two subsidiaries of Milledgeville-based Oconee Regional Health Systems, which owns the medical center, are not included in the transaction. The two entities include the Milledgeville-based Oconee Regional Healthcare Foundation and Monticello, Ga.-based Jasper Health Services. The subsidiaries were not included in the sale because they are legally considered debtors the health system's Chapter 11 bankruptcy case filed earlier this summer, the report states.

ORMC previously entered into a temporary management agreement with Navicent Health last month. The agreement has since been terminated.

More articles on transactions and valuations:
Meridian Behavioral Health Systems to acquire Highland Hospital
BJC Healthcare sells shuttered 127-bed hospital for $13
Clark Regional Medical Center joins University of Kentucky cancer network

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