In the past two years, the hospital has employed physician practices and has started construction on a new urgent care facility and an ambulatory surgery center. Though the hospital did not seek approval for the $10 million loan, it began spending the loan money before the oversight was realized.
The hospital came to county commissioners six weeks ago to seek approval for using the hospital building as collateral. If the commissioners do not give their blessing, the lender could not take the hospital building without the county’s permission.
Related Articles on Transactions and Valuation:
Colorado’s Memorial Health Still Searching for a Tenant for $3M Surgery Center
New Arkansas Eye Surgery Center Coming to Magnolia
Montana’s Billings VA Clinic Expansion to Include Surgery Center
At the Becker’s 32nd Annual Meeting: The Business and Operations of ASCs, taking place October 29-31 in Chicago, ASC leaders, surgeons and healthcare executives will explore strategies to drive growth, enhance operational performance, navigate reimbursement challenges and prepare for the future of ambulatory surgery. Apply for complimentary registration now.
