Sturgis (Mich.) Hospital, which had been on the verge of closure before receiving the REH designation, is to be sold to Asker Corp. The transaction calls for a $3 million payment to the city of Sturgis in exchange for the release of all obligations on the part of the hospital for facility improvements, according to the report.
Bond repayments totaling $8.5 million were also released as a part of the transaction, the report said.
The sale of the hospital, still the only one in the state to convert to an REH, still needs to be approved by the Michigan attorney general.
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