The 42-bed Louisiana Hospital Center owed $24 million to G.E. Commercial Finance Business Property Corp., and had access to $15 million in bond financing through the Hammond Area Economic Development District.
G.E. Commercial, the buyer, will also pay $1.16 million to the development district.
Local physicians and Cardiovascular Hospitals of America in Wichita, Kan., partners in the hospital, could not reach an agreement on how to run the hospital.
Read the Advocate’s report on Louisiana Hospital Center.
