Becker's Healthcare September 12, 2024
Dallas-based Steward Health Care received approval from U.S. Bankruptcy Court Judge Christopher Lopez to sell Wadley Regional Medical Center at Hope (Ark.) to Hope-based Pafford Health Systems for $200,000 during a Sept. 12 court hearing.
“This is in the best interest of the estate, it is in the best interest of the creditors,” Mr. Lopez said during the hearing.
Steward, which sought Chapter 11 protection May 6 and has been working to offload the remainder of its 31 hospitals, accepted Pafford Health Systems’ bid for the hospital on July 21.
Pafford also agreed to fund payroll accrued as of Sept. 1 for the 79-bed hospital under the sale agreement, providing Steward with additional liquidity following...
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