The court approved South Nassau’s amended asset purchase agreement, which will transfer ownership of LBMC’s land, buildings and equipment to South Nassau by June 30. A separate buyer will acquire the Komanoff Center for Geriatric and Rehabilitative Medicine.
Instead of reopening LBMC as a full-service acute-care hospital, South Nassau will redevelop the campus with different functionalities. It will create a family medicine urgent care center and, pending state approval, a freestanding emergency department.
LBMC filed for Chapter 11 bankruptcy this past February. During the filing, the hospital agreed to sell its assets to South Nassau. LBMC had been closed since it sustained heavy flooding damage from Hurricane Sandy in October 2012.
More Articles on Hospital Transactions:
Ochsner, St. Tammany Parish Hospital to Form Affiliation
6 Recent Hospital Transactions and Partnerships
Port Huron Becomes 12th McLaren Hospital
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
