The sale of a struggling public hospital in Louisiana could close this summer, according to NOLA.com.
Partnership talks between the public Metairie, La.-based East Jefferson General Hospital and New Orleans-based LCMC Health began last April. The two parties have been exploring strategic partnerships that would allow LCMC Health to operate the financially strapped public hospital.
In November, an outright sale of the public hospital emerged as the favored option in the partnership discussions.
Because it is a public hospital, voters in the service district need to approve the transaction.
Leaders of East Jefferson General Hospital and LCMC Health this week set a May 9 election as a target date to put the deal on the ballot.
Terms of the proposed sale remain private.
East Jefferson General is the only standalone hospital in the area and has struggled to compete in an increasingly consolidated healthcare market.
The hospital is about $135 million in debt and loses millions each year. While leaders have said they are current on their debt payments, the hospital is likely headed for insolvency without the deal, according to the report.