Court Approves Sale of Lander Valley Medical Center to Lifepoint Hospitals, Inc.Business Editors & Health/Medical Writers NASHVILLE, Tenn.--(BW HealthWire)--June 22, 2000 New American Healthcare Corporation and LifePoint Hospitals, Inc. (Nasdaq:LPNT) announced today that the U.S. Bankruptcy Court bankruptcy court n. the specialized Federal court in which bankruptcy matters under the Federal Bankruptcy Act are conducted. There are several bankruptcy courts in each state, and each one's territory covers several counties. , Middle District of Tennessee, has approved the sale of Lander Valley Medical Center, a 102-bed facility in Lander, Wyoming Lander is a city in Fremont County, Wyoming, United States. Named for transcontinental explorer Frederick W. Lander, it is the county seat of Fremont CountyGR6. Lander is located in central Wyoming, along the Middle Fork of the Popo Agie River. , to LifePoint Hospitals, Inc. The transaction is expected to close by July 31. Terms were not disclosed. "The sale the court approved today is part of our previously announced strategy of putting our hospitals into the hands of new owners that can invest in making them high-quality assets for the communities, patients and medical professionals that rely on them," said Tom Singleton sin·gle·ton n. An offspring born alone. singleton Medtalk One baby. Cf Triplet, Twin. , President and Chief Executive Officer of New American Healthcare. "We are especially pleased that Lander Valley Medical Center is being purchased by a company that has clearly demonstrated its commitment and ability to operate in the interest of the people it serves." Jim Fleetwood, Chairman and Chief Executive Officer of LifePoint Hospitals, Inc., said, "This transaction is consistent with our long-term operating strategy and complements our existing group of non-urban hospitals. We look forward to working closely with the physicians, employees, medical professionals, and management of Lander Valley Medical Center to provide excellent healthcare to their community. We are very happy to learn that our bid for the purchase of this facility was approved." On April 19, New American Healthcare and its hospital subsidiaries voluntarily filed petitions for protection under Chapter 11 of the United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. Bankruptcy Code Bankruptcy Code may refer to:
LifePoint Hospitals, Inc. was established in May of 1999 as a spin-off The situation that arises when a parent corporation organizes a subsidiary corporation, to which it transfers a portion of its assets in exchange for all of the subsidiary's capital stock, which is subsequently transferred to the parent corporation's shareholders. to the shareholders of HCA HCA, n.pr See acid, hydroxycitric. - The Healthcare Company, the nation's largest hospital and healthcare system. LifePoint owns and operates 21 hospitals in non-urban areas. In most cases, the LifePoint facility is the only hospital in the community. LifePoint's non-urban operating strategy offers potential for significant operations improvement by focusing on quality patient care, supporting physicians, creating excellent workplaces for its employees, providing community value, and exercising fiscal responsibility. Headquartered in Brentwood, Tennessee Brentwood is a city in Williamson County, Tennessee, United States. The population was 23,445 as of the U.S. Census Bureau's 2000 census, and as of 2007, Brentwood's population has increased to over 30,000. Brentwood is an affluent Nashville suburb. , LifePoint is affiliated with over 6,000 healthcare professionals. More information about LifePoint and its hospitals is available at www.lifepointhospitals.com. New American Healthcare currently owns eight acute care hospitals in six states with 861 licensed beds. More information about the Company is available at www.nahc.net. |
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