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UnityPoint Health-Waterloo to buy bankrupt Iowa hospital

Marshalltown-based Central Iowa Healthcare, which filed for Chapter 11 bankruptcy in December, is one step closer to joining UnityPoint Health-Waterloo (Iowa), an affiliate of West Des Moines, Iowa-based UnityPoint Health.

As part of its Dec. 20 bankruptcy filing, CIH submitted a plan to sell the bulk of its assets to UnityPoint Health-Waterloo. On Tuesday, CIH's corporate members approved the sale in an 88-0 vote. UnityPoint Health-Waterloo offered $12.5 million for CIH's assets, according to the Times-Republican.

In December, CIH officials said UnityPoint Health-Waterloo offered to financially support CIH's operations during the pending sale and throughout the bankruptcy case. CIH expects the transaction to close in the first quarter of 2017.

CIH includes a 49-bed acute care hospital, an outpatient center and four primary care clinics.

More articles on healthcare industry transactions:

Tenet to sell multiple hospitals, home health business
Wellmont acquires Takoma Regional Hospital
Envision Healthcare acquires Sunshine Radiology

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