Parkview Adventist Medical Center (Brunswick, Maine), which filed for Chapter 11 bankruptcy relief Tuesday morning, will be purchased by Mid Coast Hospital (Brunswick, Maine), according to a Bangor Daily News report.
The purchase is part of a "prepackaged bankruptcy plan" that will preserve all full-time and part-time jobs at Parkview.
The hospitals have not revealed the purchase price.
"After years of change in the healthcare industry and increasing financial challenges, Parkview has reached a point where it can no longer serve its mission as a standalone hospital and is now seeking a new opportunity with Mid Coast Hospital to advance a common vision to serve the local needs of midcoast Maine long into the future," Bob Cundiff, chairman of the board of directors of Parkview, said in a statement.
Inpatient and emergency services will be consolidated on the Mid Coast campus, while the Parkview campus will host physician practices and a walk-in clinic, in addition to radiology, laboratory, ambulatory testing and surgery, oncology, hematology, infusion services, physical, occupational and speech therapy services, and community health and wellness programs.