Under the agreement, Prime Healthcare agreed to keep the hospital open and to retain all of the hospital’s current employees.
Hospital officials did not disclose any details regarding the transaction, but expect the deal to be closed sometime this fall, according to the article.
The 56-bed hospital filed for bankruptcy in June. Genesis Healthcare, the hospital’s previous owner, had objected to the sale, but rescinded its objection earlier this month.
More articles on transactions and valuations:
CHS to sell four hospitals to Curae Health
Winthrop, NYU Langone sign affiliation agreement
Mayo Clinic Care Network adds Bay area hospital
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.