Lilburn, Ga.-based LifeBrite Hospital Group gained approval from a federal bankruptcy court judge to acquire Pioneer Community Hospital of Stokes in Danbury, N.C., and other medical facilities for $400,000, according to Winston-Salem Journal.
In July, a U.S. bankruptcy court judge in Mississippi approved an interim management contract allowing LifeBrite, a for-profit hospital management organization, to take over services at PCH. Under the agreement, LifeBrite said it would assume $1.3 million in Medicare and Medicaid obligations and make a one-time $400,000 payment to PCH.
The transaction will close Jan. 31.
PCH was previously owned by Magee, Miss.-based Pioneer Health Services. PHS filed for Chapter 11 bankruptcy protection March 31.