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FMC seeks cash to help fund Polk hospital management
by Doug Walker, rn-t.com
Jan 29, 2013 | 1822 views | 0 0 comments | 7 7 recommendations | email to a friend | print
The Hospital Authority of Floyd County and Floyd Healthcare Management Inc. boards on Monday night approved two new lines of credit with Regions Bank, one for $15 million, the other for $10 million. The two boards also approved the renewal of a $10 million line of credit with Wells Fargo Bank.

FMC VP Rick Sheerin explained that the new $15 million line of credit with Regions will serve as a form of reimbursement for costs associated with the lease agreement to begin operations at Polk Medical Center as part of the takeover of the smaller hospital from the Hospital Corporation of America. The line of credit will be repaid as cash flow at the hospital in Cedartown begins to increase.

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