Fairmont General Hospital Board Approves Bidder in the Bankruptc - WBOY.com: Clarksburg, Morgantown: News, Sports, Weather

Fairmont General Hospital Board Approves Bidder in the Bankruptcy Sales Process

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The Fairmont General Hospital Board of Directors voted Monday to select Alecto Healthcare Services of California as a potential strategic partner and the successful initial bidder in the bankruptcy sales process

On September 3, 2013, the FGH Board voted to file for bankruptcy protection in the United States Bankruptcy Court for the Northern District of West Virginia under Chapter 11 of the United States Bankruptcy Code.

Alecto Healthcare is an investor-owned organization that is based in Los Angeles, California, with a management team with over 100 cumulative years of hospital experience in the acquisition of 20 acute care hospitals.

"After reviewing all the information from our search, we firmly believe that Alecto is the best choice at this time to maintain and improve FGH's strong commitment to serving the health needs of the citizens of Fairmont and Marion County," said FGH Board Chairperson, Toni Nesselrotte.

This selection is subject to the approval of the Bankruptcy Court.
 
"The next 60-90 days are going to be a crucial period in the bankruptcy process and a lot is going to happen," said Michael Garrison, Counsel to Fairmont General Hospital. "That's really the immediate time frame that folks should be looking at. In that time frame, nothing will change at Fairmont General."
 
The process will include an auction process and the potential for further bidding prior to a final determination by the Court.

"Our ultimate goal when we filed for bankruptcy protection is the same goal we have in taking this important step today: to make sure Fairmont General will be healthy, strong, and well-
positioned to thrive and provide quality care in this community for generations to come," said J. Michael Martin, FGH board member.