Hutcheson Buyout Deal Could Be Imminent
Chattanooga (WDEF) A deal could happen Thursday to sell the embattled Hutcheson Medical Center.
The Hutcheson Board met Thursday morning to get briefed.
CEO Farrell Hayes tells News 12 Now that it is his understanding that both Erlanger and Regions Bank have signed off on the deal.
A California company that specializes in turning around financially troubled hospitals is the investor.
Prime Healthcare Services has offered to pay four and a half million dollars for just the main building.
Now Hayes is headed to Atlanta for a meeting with the federal bankruptcy judge.
There, he’ll find out if Erlanger really does support it.
If the judge rejects the bid, the deal is off and Hutcheson will close on Friday.
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