The City of Demopolis is separating itself from the healthcare business, The West Alabama Watchman reports.
The city gave Whitfield Regional Hospital the property and building in exchange for the hospital repaying all the money the city loaned in the past.
The transaction is a win-win for both the city and the hospital. It increases the cash held by Demopolis by almost $650,000 and decreases its debt by more than $900,000. The hospital will improve its balance sheet by adding the facilities to its property inventory, allowing it to establish effective future capital plans. Read more.
