Hospital sold, filed for bankruptcy protection - | Chattanooga News, Weather & Sports

Hospital sold, filed for bankruptcy protection

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MILLEDGEVILLE, Ga. (AP) - Oconee Regional Medical Center officials have voted to approve a sale and asked a federal bankruptcy court to protect them from their creditors.

The hospital filed for Chapter 11 bankruptcy protection at the U.S. Bankruptcy Court in Macon.

In their filing, Oconee Regional said they had more than $10 million in liabilities and listed 49 pages of creditors.

Oconee says it's suffering from financial problems like many rural hospitals due to aging populations, declining government payments, lower patient volumes and increasing numbers of uninsured patients.

WMAZ-TV ( ) reports California-based Prime Healthcare Services bought Oconee and entered into a sale agreement Wednesday. The process to transfer ownership will take around 90 days. During the time, the hospital will continue to operate daily.

Prime Healthcare currently owns 44 hospitals in 14 states.

Information from: WMAZ-TV,

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