UnityPoint Health – Waterloo Selected as Successful Bidder For Central Iowa Healthcare
Marshalltown, IA - The United States Bankruptcy Court for the Southern District of Iowa in Des Moines has initially approved a plan submitted by Central Iowa Healthcare (CIH) in which UnityPoint Health – Waterloo will purchase substantially all of its assets. The Court identified UnityPoint Health – Waterloo as the successful bidder in the bankruptcy auction process. The bid process was open to any qualified bidder.
CIH filed a petition for protection under Chapter 11 of the U.S. Bankruptcy Code on December 20, 2016. The bid submitted by UnityPoint Health - Waterloo included a commitment that all of CIH’s healthcare operations would continue without interruption during the bankruptcy proceedings and after the sales transaction was completed. The ruling occurred during a court hearing on March 16, 2017.
The assets include an acute care hospital, emergency department, four primary care clinics and an outpatient center. Under the plan, high quality healthcare will continue in Marshalltown and surrounding communities as Marshalltown becomes an affiliate of UnityPoint Health – Waterloo. The closing is expected this Spring.
“We are excited about the future of healthcare in our community and all UnityPoint Health – Waterloo has to offer to the Marshalltown region,” stated Dawnett Willis, acting CEO of Central Iowa Healthcare. “Today was a great victory for our community, patients, and staff to be able to align CIH with like-minded health system, UnityPoint Health – Waterloo, which will enhance and develop high-quality healthcare services in our community.”
Pam Delagardelle, President and CEO of UnityPoint Health – Waterloo, said, “We welcome this opportunity to stabilize Central Iowa Healthcare. Sustainable, local health care is vital to Marshalltown and its neighbors. Central Iowa Healthcare patients will continue to receive high-quality care from caregivers they know and trust. UnityPoint Health and Central Iowa Healthcare have rich histories of service to our communities. This new arrangement will strengthen Marshalltown’s regional role as an employer, economic engine and center for health care.”