The Unicoi County Memorial Hospital Board in
MSHA initially provided a $2 million line of credit after the Unicoi hospital board voted to move forward with an acquisition proposal from MSHA in November 2012, according to the report. That line of credit for operational costs — which has at this point been exhausted — was included in the acquisition proposal.
The hospital board is currently waiting for the Unicoi County Commission to approve the hospital's sale to MSHA, according to the report.
The hospital board voted unanimously earlier this month to accept MSHA's proposal to acquire the public-owned hospital. The Erwin, Tenn., Board of Mayor and Alderman also voted to approve the sale.
Wellmont Health System, based in Kingsport, Tenn., submitted an acquisition bid for Unicoi but said it considers both its bid and MSHA's bid null and void due to legal issues with the UCMH board's selection process.
The hospital board and MSHA had originally reached a definitive agreement in April, but the UCMH board met to reconsider both proposals after the Tennessee attorney general's office delayed the acquisition in June due to concerns over open meeting laws and lack of approval from local authorities.
More Articles on Unicoi County Memorial Hospital:
Board Supports Mountain States Acquisition of Unicoi Hospital
Unicoi Hospital Accepts Mountain States Offer for Third Time
Wellmont Officials Say Unicoi Hospital Sale Proposals Null and Void