Judge expected to approve sale of NRMC
Published 8:03 pm Monday, September 29, 2014
NATCHEZ — Saying he didn’t see another option in light of Natchez Regional Medical Center’s insolvency, Judge Neil Olack said Monday evening he would approve the sale of the county-owned hospital.
Olack — the chief U.S. bankruptcy judge for the Southern District of Mississippi and the justice who has been overseeing NRMC’s bankruptcy case — said he should begin reviewing the official order by midday and have it signed in time for the sale to close at 11:59 p.m. Tuesday.
With the close of the sale, ownership of the hospital will pass from Adams County to Community Health Systems, the national health care giant that is purchasing the financially beleaguered county-owned hospital for $10 million.
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The purchase agreement also requires CHS to pre-pay $8 million in ad valorem taxes.
Natchez Regional filed a Chapter 9 bankruptcy in March after months of attempting to find a buyer for the county-owned hospital.
Earlier this month, CHS, based in Franklin, Tenn., purchased the hospital, pending approval of the bankruptcy court.
CHS owns nearby Natchez Community Hospital and owns or manages more than 200 other hospitals across the country.