Powell Valley Healthcare Restructuring
Written by Andrew-Rossi on February 6, 2018
Powell Valley Healthcare’s reorganization plan was approved last week in state bankruptcy court.
According to an article in the Cody Enterprise, the restructuring will not keep the hospital from its regular operations. Terry Odom, chief executive officer for the organization, says that the court’s approval of the plan will allow the hospital to restructure its financial affairs, satisfy its obligations to its stakeholders and have the financial strength and flexibility to continue to serve the community.
Odom praised the staff and the providers for their continued focus on patients during the financial challenges. He said the reorganization plan is the result of substantial good-faith negotiations, compromises and agreements reached between the hospital and various creditors and other stakeholders.