Montgomery County, Ala. is providing up to $17.5 million in emergency funding to Jackson Hospital & Clinic Inc. to sustain the health-care provider’s operations as it looks to reorganize in bankruptcy.
The 344-bed hospital, which filed for Chapter 11 last year as it struggled with stagnant reimbursement rates and rising labor costs, sought emergency approval of funding on Feb. 20 from the US Bankruptcy Court for the Middle District of Alabama “to ensure the citizens of Montgomery, Alabama will have access to healthcare services provided by the Debtors.”
The financing agreement includes an upfront payment of $10 million and another ...
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