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Iowa City Hospital Says Lender’s Actions Amount to ‘Inexcusable’ Threats

Preston Hollow Community Capital, a lender and bondholder for Mercy Hospital-Iowa City, has filed a court petition seeking to have a receiver appointed to safeguard the hospital’s assets. Preston Hollow has also issued a public statement claiming the hospital has defaulted on loan agreements and resisted pressure to put in place a new strategy that might improve Mercy’s financial outlook.