Thomasville (Ala.) Regional Medical Center faces the possibility of foreclosure and auction sale after opening only four years ago.
The rural 29-bed hospital was listed on a foreclosure filing earlier this month for nearly $40 million owed on the property, according to The South Alabamian. The property could be sold to the highest bidder for cash, with a nonrefundable $1 million deposit, May 9.
Thomasville Mayor Sheldon Day told the news outlet that local officials are trying to keep the hospital open.
"We are investing nearly $1 million a year into the medical center, so we are committed to keeping it open and serving the people of Clarke County," Mr. Day told The South Alabamian. "We believe we have a solution worked out on the transfer of ownership and I have faith that things are going to be better under the new owners."
The mayor said Progressive Health Group is one interested buyer. The Oxford, Miss.-based hospital management group shares a CEO with Thomasville Regional. Quentin Whitwell is CEO of Progressive Health Group and in March 2023 was named CEO of Thomasville Regional. The company recently completed an acquisition of Helena-West Helena, Ark.-based Helena Regional Medical Center from Brentwood, Tenn.-based Quorum Health for $2.5 million.
Thomasville Regional has encountered financial instability since opening in March 2020. It received 80% less COVID-19 relief funding than similar hospitals, a gap Mr. Day attributed to the funding calculation based on hospital revenues in 2019. In 2022, an anonymous donor pledged $1 million to help the hospital.
Thomasville had no hospital for 10 years prior to 2020.
Becker's has reached out to Mr. Day's office and will update this story if more information is made available.