Lee County Hospital Authority Board of Commissioners Repurchases Local Hospital Building

This week saw the Lee County Hospital Authority Board of Commissioners finally close on the transaction for the repurchase of the former Lee Regional Medical Center building from Americore Health LLC and its affiliates.
This formal transaction also severed the relationship between Americore Health and the Hospital Authority. The closing of this transaction concludes the diligent work of the Hospital Authority over the last few weeks to structure an efficient and quick separation from Americore Health. Vice-Chairman, H. Ronnie Montgomery stated, “When the Authority selected Americore (Health LLC) during 2017, Americore (Health LLC) was the only option that guaranteed the Authority to re-open a hospital in the county.”
The existing secured note on the building held by the Lee County Board of Supervisors will remain on the building and be repaid over time. Ballad Health provided the financing to remove the other existing debt on the facility created by Americore (Health LLC).  Additionally Mr. Montgomery said, “The debt from Ballad Health is not the debt of Lee County, but of the Hospital Authority. We look forward to working with Ballad Health to finalize the Hospital Authority’s arrangement with them for re-opening a hospital in Lee County. For additional information please contact H. Ronnie Montgomery, Vice-Chairman at 276-346-2006.
The Board of Supervisors created the Lee County Hospital Authority on April 15th, 2014 under Chapter 53 of Title 15.2 of the Code of Virginia. Delegate Terry Kilgore (of Scott County) introduced emergency legislation in the 2014 Session of the General Assembly authorizing the Board of Supervisors of Lee County to create the Hospital Authority. The former Lee Regional Medical Center closed on October 1st, 2013 and the Hospital Authority has maintained its sole goal of re-opening a hospital in Lee County. Commissioners of the Lee County Hospital are appointed by the Board of Supervisors of the County of Lee, Virginia.
 

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