Earlier this month, Prime secured its spot to purchase the financially struggling facility when bidders at MonroeHospital’s bankruptcy auction were unsuccessful at beating Prime’s offer.
MonroeHospital filed for bankruptcy reorganization in August. The Chapter 11 bankruptcy petition filed by the hospital stated the facility had less than $50 million in assets and more than $100 million in liabilities.
To help the struggling facility, Prime will spend at least $2 million on the hospital’s operations within the first three years of the sale.
More articles on healthcare industry transactions:
Lancaster General Health, UPenn Health System exploring stronger ties
Mercy Health System, Rockford Health System to merge
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
