University Hospital and Clinics, a 116-bed facility in Lafayette, La., will remain open after officials received notice the state will continue to fund the institution, according to KLFY.com.
The state has faced an ongoing budget crisis for months — a predicament that left many healthcare institutions in jeopardy and at risk for closure without proper funding.
However, UHC reportedly received word from state officials June 25 the state's recently approved budget deal set aside funds for the hospital.
David Callecod, president of Lafayette General Health, the parent company of UHC, confirmed the news to the publication via telephone.
"There was a lot of trepidation and anxiety going through this process, but I think all of us at Lafayette General Health feel much better knowing that funding will be there next year and then also having more stability in the budget over the next seven years," he said.
Lafayette General Health previously issued letters to nearly 800 employees and Democratic Gov. John Bel Edwards, among others, in April warning them of termination if the state did not provide sufficient funding to the institution by June 30.
Editor's note: Becker's Hospital Review reached out to University Hospital and Clinics for comment and will update the report as more information becomes available.