Trinity Hospital, Erin, Tenn., filed for federal bankruptcy protection and has lined up a buyer willing to pay $2.9 million for the 25-bed hospital, court records indicated. The hospital, owned by for-profit Associated Healthcare Systems, Brentwood, Tenn., filed its Chapter 11 petition in U.S. Bankruptcy Court, Nashville. A hearing on the sales motion is scheduled for Sept. 30 in Nashville. In its bankruptcy petition, Trinity reported both assets and liabilities of between $1 million and $10 million. One filing indicates that Trinity owes $4.1 million to its main bank.
The hospital identified the buyer as Patients Choice Medical Center of Erin, Tenn., a company set up by Ray Shoemaker, according to a court filing. Shoemaker owns and is the president and chief executive officer of Rural Healthcare Developers, a Plantersville, Miss.-based company that is providing management services to Trinity Hospital. Shoemaker was named an Up & Comer by Modern Healthcare in 2006. -- by Vince Galloro
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