WATERLOO, Iowa (KCRG-TV9) -- A hospital having trouble paying back debts should soon have a new owner.
Central Iowa Healthcare in Marshalltown declared bankruptcy after losing $20 million last year.
A court has given initial approval for UnityPoint Health-Waterloo to buy the hospital.
“We are excited about the future of healthcare in our community and all UnityPoint Health-Waterloo has to offer to the Marshalltown region,” stated Dawnett Willis, acting CEO of Central Iowa Healthcare.
UnityPoint's bid included a commitment to continue all CIH’s healthcare operations during the bankruptcy proceedings and after the sales transaction was completed.
UnityPoint would continue to operate the hospital, emergency department, four primary care clinics, and an outpatient center.
Central Iowa Healthcare would become an affiliate of UnityPoint Health-Waterloo.
“We welcome this opportunity to stabilize Central Iowa Healthcare. This new arrangement will strengthen Marshalltown’s regional role as an employer, economic engine and center for health care," said Pam Delagardelle, President and CEO of UnityPoint Health-Waterloo.
The closing is expected this Spring.