Jackson Hospital in Alabama faces financial crisis, defaulting on bond payments, leading to leadership changes and asset sales.

Jackson Hospital in Montgomery, Alabama, is facing financial challenges after defaulting on $60 million in bond payments. CEO Joe Riley and COO Michael James are stepping down, with Ronald Dreskin named interim CEO. The hospital plans to transfer its Hospice of Montgomery service and sell the Jackson Wellness Center to focus on core operations. Allen Wilen has been appointed as Chief Restructuring Officer to oversee the hospital's restructuring process.

4 months ago
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