SSM will continue to manage Pauls Valley General, the company said in a statement.
“Consistent with the existing agreement, SSM Health Care Oklahoma is committed to support Pauls Valley General Hospital as it navigates the bankruptcy process,” SSM said in the statement. “Our goal is to work with the Pauls Valley General Hospital Board and Pauls Valley Hospital Authority to find the best long-term solution to provide for the health care needs of the community.”
The hospital authority voted unanimously Friday to approve a bankruptcy filing at a public meeting.
The authority has filed for Chapter 9 bankruptcy, which refers to the section of U.S. Bankruptcy code that allows municipalities and other governmental bodies to seek bankruptcy protection from creditors.
Pauls Valley General will continue to operate as it seeks to restructure its debt, Gamble said.
The authority estimated its total assets and liabilities between $1 million and $10 million, according to a 98-page bankruptcy filing filed Friday in U.S. Bankruptcy Court for the Western District of Oklahoma. Pauls Valley Hospital Authority owes more than $468,500 in state and federal taxes, according to the bankruptcy filing.
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SSM Health Care Oklahoma is committed to support Pauls Valley General Hospital as it navigates the bankruptcy process.”
SSM Health Care Oklahoma,