The lender, Dylan Jagger Investment Co., will pay off the hospital’s debt, which includes $16 million in general debt, $5 million in building completion costs and other operating expenses, according to the report. Physician owners will also provide an additional $3.9 million in funding.
Previously, private equity firm Argenta Group was going to finance KMC through the Clark County government. Dylan Jagger could still go through the county government, but if the local government decides to not participate, Dylan Jagger could charge a higher interest rate, according to the report.
The 26-bed KMC first filed for Chapter 11 bankruptcy in Sept. 2010, roughly 13 months after it opened.
Related Articles on Kentuckiana Medical Center:
Physician-Owned Kentuckiana Medical Center Makes Progress With County Commissioners
Judge Gives Indiana’s Kentuckiana Medical Center One Month to End Bankruptcy
Indiana Physician-Owned Hospital Files for Bankruptcy
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
