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New owner named for cash-strapped Hope hospital

An Ohio asset-management company says it's taken over ownership of a hospital in Hope that's deeply in debt and facing foreclosure.

HOPE, Ark. (AP) — An Ohio asset-management company says it's taken over ownership of a hospital in Hope that's deeply in debt and facing foreclosure.

Nexus Healthcare Holdings announced Wednesday that it's acquired Medical Park Hospital in Hope. Company president Jim Pack says he's committed to making Medical Park the best community hospital it can be.

But the Texarkana Gazette reports that the change in ownership doesn't resolve the hospital's financial problems. The parent company of Texarkana-based Wadley Regional Medical Center filed a foreclosure suit earlier this month against the hospital's previous owner, Shiloh Health Services.

The parent company, IASIS, took control of Medical Park's mortgage in March, and the hospital owes IASIS $4.5 million. Wadley CEO Tom Gilbert says the change in ownership would not affect the pending foreclosure and collection lawsuit.


 

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