Pacer Health Corp., Miami, agreed to take over debt-laden Minnie G. Boswell Memorial Hospital, Greensboro, Ga., 16 days before the critical-access facility had been scheduled to close. Pending state approval, ownership of Boswell Memorial will be transferred from Greene County Hospital Authority to for-profit Pacer, which also owns a hospital in Cameron, La. Rainier Gonzalez, chairman and chief executive officer of the turnaround firm, said Pacer will manage Boswell Memorial during a 90-day transition period while state officials review the deal. Pacer has agreed to cover any costs in excess of $2 million during the transition period and to keep the hospital open at least 18 months if the ownership transfer is approved, Gonzalez said. He said he expected Pacer would spend about $1 million to make up the cost difference during the transition. Boswell Memorial, which includes a 29-bed nursing home, is about $4 million in debt and lost about $800,000 in May, Gonzalez said. He said he does not anticipate layoffs among the hospital's 125 employees. -- by Michael Romano
Ga. critical-access hospital finds would-be savior
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