E.J. Noble Hospital in Gouverneur, N.Y., has entered into a management contract with Canton-Potsdam (N.Y.) Hospital, according to a Watertown Daily Times report.
Under the contract, Canton-Potsdam Hospital would manage E.J. Noble Hospital.
The future of the contract depends on approval from the National Automatic Sprinkler Pension Fund, which funded an $11 million financing package for E.J. Noble Hospital's expansion project. The deal has already been approved by the state health department, according to the report.
E.J. Noble has struggled financially since it was forced to shut down in late September following the discovery of quality deficiencies in its laboratory, such as a lack of supplies and staffing to conduct testing, expired supplies and other safety concerns. According to the report, the hospital developed a corrective plan, so the health department allowed a partial reopening of the hospital's laboratory, but some services, such as the blood bank, remain closed.
Verdugo Hills Hospital, USC Keck Medical Center Continue Merger Discussions
Prime Healthcare Foundation Makes 2 Non-Profit Hospital Transactions
Under the contract, Canton-Potsdam Hospital would manage E.J. Noble Hospital.
The future of the contract depends on approval from the National Automatic Sprinkler Pension Fund, which funded an $11 million financing package for E.J. Noble Hospital's expansion project. The deal has already been approved by the state health department, according to the report.
E.J. Noble has struggled financially since it was forced to shut down in late September following the discovery of quality deficiencies in its laboratory, such as a lack of supplies and staffing to conduct testing, expired supplies and other safety concerns. According to the report, the hospital developed a corrective plan, so the health department allowed a partial reopening of the hospital's laboratory, but some services, such as the blood bank, remain closed.
More Articles on Hospital Transactions:
Ardent Health Joint Venture Finalizes Purchase of BSA Health System in TexasVerdugo Hills Hospital, USC Keck Medical Center Continue Merger Discussions
Prime Healthcare Foundation Makes 2 Non-Profit Hospital Transactions