News Talk 94.1/AM 1600 Where The Upper Cumberland Talks
Cookeville Regional Medical Center’s (CRMC) Finance Committee approved closing costs from the Cumberland River Hospital (CRH) Tuesday.
CEO Paul Korth said the Celina facility racked up over $5.7 million in money owed to CRMC prior to closing March 1.
“We went through a detailed analysis of Cumberland River. We wanted to get Cumberland River’s books closed and items accrued for,” Korth said. “Over the years, there had been monies transferred back and forth between Cumberland River and [CRMC], which left a large balance of a dollar amount that would have to be forgiven from a standpoint of Cumberland River’s books.”
The $5.7 million will be listed as a gain for CRH and a loss in CRMC’s financial records.
In the meantime, Korth said CRMC is still paying for some services at the Celina facility.
“We do still have a few people up there that are employed trying to collect on the accounts receivable,” Korth said. “We still have some people employed up there watching over the building, we have security up there on a daily basis. We still have all the utilities going on up there [and] we do still have some minor repairs and maintenance.”
Korth noted during the meeting that he hopes to see some sort of change regarding the Celina facility’s status within the next few months.
CRMC received two bids by Monday’s deadline for the Celina building, one from Celina Healthcare and the other from the Osborne Group headquartered in Ohio. Details on the bids have not been released at this time.
