Jackson Hospital & Clinic in Alabama, US, is set to receive financial support via a debtor in possession (DIP) loan to enable it to remain operational during its bankruptcy.
The hospital is currently undergoing Chapter 11 bankruptcy proceedings and reorganisation, having served the Montgomery community for nearly 80 years.
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Jackson Healthcare’s parent company, Jackson Investment Group, is providing the loan.
Despite sharing the Jackson name, Jackson Hospital & Clinic operates independently from Jackson Healthcare and Jackson Investment Group.
The DIP loan comes at a critical time for the hospital, which has been facing the threat of closure. With this support, Jackson Hospital & Clinic will undergo financial restructuring under court supervision.
Jackson Healthcare president Shane Jackson said: “Providing Jackson Hospital & Clinic with timely support in the form of an interim loan as it goes through bankruptcy and restructuring was just the right thing to do.
“As a long-standing client of ours, we know the critical work it performs. The people of Montgomery and the surrounding areas count on and respect this wonderful institution among the other excellent healthcare providers in the community.
“Helping ensure current and future patients continue to have access to care is vital – as is providing support during this transitional period to help Jackson Hospital & Clinic emerge even stronger on the other side.”
Jackson Hospital & Clinic offers a range of medical services, including cancer, neurosciences, cardiac, orthopaedics and women’s healthcare, alongside round-the-clock emergency care.
Located in Montgomery, the hospital aims to provide patient-centred and cost-effective care in a safe and compassionate setting.
Jackson Healthcare provides healthcare workforce services for more than 20 million patients a year, managing over 20 businesses and supporting hospitals, health systems and medical facilities across the US.
Forbes recently listed the company as one of the US’ largest privately held organisations.
