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South Carolina hospital on verge of closure secures new owner

Union, S.C.-based Wallace Thomson Hospital is now Union Medical Center and is part of Spartanburg (S.C.) Regional Healthcare System, according to a Spartanburg Herald-Journal report.

The 50-bed hospital has been financially distressed for years. In 2009, the hospital's former owner, Union Hospital District, filed for chapter 9 bankruptcy reorganization.

"We've been struggling for several years, and we were certainly at a prospect where the hospital very well could have closed," Union Medical Center CEO Paul Newhouse told the Spartanburg Herald-Journal.

The hospital was able to avoid closure under a court-approved bankruptcy plan that allows SRHS to take over the hospital. Joan Little, a Union County council member, told the Spartanburg Herald-Journal there would have been no way to keep the hospital open if SRHS hadn't stepped in.

Under its new name and as part of SRHS, the hospital will have access to multi-specialty physician groups, increased efficiencies and more advanced technologies.

More articles on healthcare industry transactions:

6 recent hospital transactions and partnerships
Bankrupt Maine hospital merges with Mid Coast Health
Lafayette General Health to acquire hospital from HCA

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