The state Attorney Generals office has received 43 opinion letters regarding the Unicoi County Memorial Hospital transaction, however they have yet to obtain a notice of sale from the UCMH Board of Control.
According to the Attorney General media contact Sharon Curtis-Flair, a total of 43 opinion letters were submitted as of Friday, Jan. 4.
The Attorney General has not received a complete notice from the UCMH Board of Control because an agreement is still being finalized through legal representation of Mountain States Health Alliance and UCMH, according to MSHA representatives.
Tim Belisle, MSHA vice president of corporate compliance and MSHA general legal counsel, said the final agreement is expected to be complete in February.
We are currently working with legal counsel for the UCMH Board of Control to prepare a final definitive agreement, which is expected to be complete by mid-February, Belisle said. After that agreement has been signed by both parties, the UCMH Board of Control will officially notify the Tennessee Attorney General's office of the transaction.”
Belisle also said UCMH currently has access to the $2 million line of credit MSHA committed to in their proposal, which was approved 5-2 by the UCMH Board of Control on Nov. 28.
“We have signed the letter of intent and the interim management agreement with Unicoi County Memorial Hospital's Board of Control, as well as the agreement for the $2 million line of credit, which the hospital can now begin drawing from as needed to support daily operations, Belisle said.
For the remainder of this article please pick up a copy of the Jan 8 2013 edition of The Erwin Record.
By Kayla Carter