Brown County General Hospital in Georgetown, Ohio, is moving closer to a sale to Scottsdale, Ariz.-based Southwest Healthcare Services, according to a Ledger Independent report.
The board of trustees and Brown County commissioners each passed a resolution and signed an asset purchase agreement. The resolutions identify the financial state and operations of BCGH as grounds for the sale and acknowledge the time required to find a purchaser for the hospital. BCGH and Southwest Healthcare Services had signed a letter of intent in January.
Under the resolution, Southwest Healthcare Services will assume all liabilities of the hospital, indemnify the board of county commissioners for any claims or losses and will provide a secured promissory note for $300,000 for the funds owed by the hospital to the county. The total price of the sale will be finalized at the deal's closing, which may occur by June 1, according to the report.
Read the Ledger Independent report on Brown County General Hospital.
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Ohio's Brown County General Selects Southwest Healthcare's Proposal
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The board of trustees and Brown County commissioners each passed a resolution and signed an asset purchase agreement. The resolutions identify the financial state and operations of BCGH as grounds for the sale and acknowledge the time required to find a purchaser for the hospital. BCGH and Southwest Healthcare Services had signed a letter of intent in January.
Under the resolution, Southwest Healthcare Services will assume all liabilities of the hospital, indemnify the board of county commissioners for any claims or losses and will provide a secured promissory note for $300,000 for the funds owed by the hospital to the county. The total price of the sale will be finalized at the deal's closing, which may occur by June 1, according to the report.
Read the Ledger Independent report on Brown County General Hospital.
Related Articles on Brown County General Hospital:
Ohio's Brown County General Selects Southwest Healthcare's Proposal
In Fourth Attempt to Sell, Ohio's Brown County General May Decide on Buyer This Week
Investment Firm Calls Off Purchase of Ohio's Brown County General