As part of the deal, LifePoint will invest $60-million in capital spending for the ailing four-hospital system over the next 10 years and pledged to offer a merit increase to employee salaries by 2.5 percent, according to the report.
Sumner Regional filed for bankruptcy last week. According to bankruptcy documents cited in the report, Sumner has assets of $212.7 million and owes $180.7 million in outstanding debt.
Sumner Regional reportedly received 10 bids to acquire the system.
Read the Nashville Business Journal’s report on Sumner Regional Health Systems.
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