A five-year legal dispute over the ownership of Portsmouth (N.H.) Regional Hospital between the Foundation for Seacoast Health and Hospital Corporation of America is nearing an end, according to a Seacoast Online report.
Testimony concluded Friday. In the next several weeks, both sides will prepare written briefs to submit to Rockingham County Superior Court Judge Kenneth McHugh.
Witnesses testified for both sides last week on factors that may influence what the penalty should be for HCA’s violation of the 1983 asset purchase agreement, which allowed the local hospital to be sold to the corporation.
Portsmouth Regional is currently owned and operated by HCA. The dispute stems from the 1983 sale of the hospital, which created the foundation. A condition of the sale allowed the foundation to buy back the hospital if HCA ever put it up for sale or transfer.
In Dec. 2009, Judge McHugh ruled that a 1999 organizational change effectively transferred the assets of the hospital to another entity in violation of the agreement. Both parties went to trial to find a remedy for that violation. The foundation is also seeking $400,000 in damages that resulted from its inability to repurchase the hospital in 1999.
Read the Seacoast Online report on Portsmouth Regional Hospital.
Related Articles on Portsmouth Regional Hospital:
HCA, Hospital Foundation Begin Trial Over Ownership of New Hampshire Hospital
HCA, Hospital Foundation Head to Court Over Ownership Dispute
HCA's Portsmouth Regional Willing to Settle Ownership Suit Out of Court
Testimony concluded Friday. In the next several weeks, both sides will prepare written briefs to submit to Rockingham County Superior Court Judge Kenneth McHugh.
Witnesses testified for both sides last week on factors that may influence what the penalty should be for HCA’s violation of the 1983 asset purchase agreement, which allowed the local hospital to be sold to the corporation.
Portsmouth Regional is currently owned and operated by HCA. The dispute stems from the 1983 sale of the hospital, which created the foundation. A condition of the sale allowed the foundation to buy back the hospital if HCA ever put it up for sale or transfer.
In Dec. 2009, Judge McHugh ruled that a 1999 organizational change effectively transferred the assets of the hospital to another entity in violation of the agreement. Both parties went to trial to find a remedy for that violation. The foundation is also seeking $400,000 in damages that resulted from its inability to repurchase the hospital in 1999.
Read the Seacoast Online report on Portsmouth Regional Hospital.
Related Articles on Portsmouth Regional Hospital:
HCA, Hospital Foundation Begin Trial Over Ownership of New Hampshire Hospital
HCA, Hospital Foundation Head to Court Over Ownership Dispute
HCA's Portsmouth Regional Willing to Settle Ownership Suit Out of Court