Franciscan Services Corp., has recently acquired a Twin City hospital that has been struggling with debt for quite some time. The hospital filed for bankruptcy in October 2010 and this deal was just settled for $4.9 million in the U.S. bankruptcy court.
The 25-bed hosptial is going to be turned into a “Catholic critical-access” hospital. The Ohio-based Franciscan Services owns six hospitals in Ohio and in Texas. The net losses on the Twin City hotel allowed it to be up for a prompt sale.
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