After suffering financial problems for some time, Central Iowa Healthcare in Marshalltown has filed for bankruptcy.
As part of the filing, CIH asked the court to approve a plan to sell substantially all of the CIH assets to UnityPoint Health – Waterloo, an affiliate of UnityPoint Health.
Under the plan, all of CIH’s healthcare operations including the acute care hospital, emergency department, four primary care clinics, and outpatient center will operate without interruption during this time and after completion of the proposed sale transaction.
CIH has asked the court to approve a financing arrangement where UnityPoint Health of Waterloo has offered to support CIH’s operations during the bankruptcy proceeding and pending the sales transaction which is targeted for the late first quarter of 2017.
(Reporting by Chuck Shockley, KFJB, Marshalltown)