Jackson Healthcare, one of the nation’s providers of health care workforce services, on Thursday announced that its parent company, Jackson Investment Group, will provide a debtor in possession (DIP) loan to Jackson Hospital & Clinic, enabling it to remain open to serve the Montgomery community as it undergoes Chapter 11 bankruptcy and reorganization proceedings.
While Jackson Healthcare, Jackson Investment Group, and Jackson Hospital & Clinic all share “Jackson” in their names, Jackson Hospital & Clinic is under separate ownership and operations.
As Jackson Hospital & Clinic has faced the threat of closure, Jackson Investment Group came forward with financing relief in the form of a DIP loan.
Under Jackson Hospital & Clinic’s bankruptcy action, it will reorganize operations and implement a financial restructuring through a court-supervised proceeding, while continuing to provide uninterrupted access to health care services and patient care for which it has been known for nearly 80 years.
“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,” Shane Jackson, president of Jackson Healthcare, said. “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.”
To connect with the author of this story or to comment, email caleb.taylor@1819News.com.
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