UnityPoint Health-Waterloo (Iowa) has reached a tentative agreement to acquire Marshalltown-based Central Iowa Healthcare, which includes a 49-bed acute care hospital, an outpatient center and four primary care clinics, according to a KFJB report.
CIH filed for bankruptcy Dec. 20. As part of its bankruptcy filing, CIH submitted a plan to sell the bulk of its assets to UnityPoint Health-Waterloo, an affiliate of West Des Moines, Iowa-based UnityPoint Health. In January, CIH's corporate members unanimously approved the sale.
On Wednesday, the parties reached an agreement for UnityPoint Health-Waterloo to purchase CIH for $11.9 million. The bankruptcy court is expected to approve the agreement within the next two weeks, and the transaction is expected to close by the end of April, according to the report.
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