DC Creating Non-Profit to Take Over SE Hospital

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According to a recent article in the Washington Post, the D.C. Council voted last week to establish a non-profit corporation to take over control of United Medical Center at a foreclosure action which is scheduled for July 9th. It is reported that the current hospital owners will try to block that foreclosure sale today. United Medical Center is currently owned by a for-profit company, Specialty Hospitals of America. City Council members plan to try to convert the long troubled hospital into a facility that will be partially managed by the city and a new owner.

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Published In: Business Organization Updates, General Business Updates, Health Updates, Mergers & Acquisitions Updates

DISCLAIMER: Because of the generality of this update, the information provided herein may not be applicable in all situations and should not be acted upon without specific legal advice based on particular situations.

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