How One Rural North Carolina Hospital Defeated Bankruptcy

After several consecutive years of declining revenue, Morehead Memorial Hospital in Eden, North Carolina, heavily indebted and unable to locate a partner, filed for chapter 11 bankruptcy protection in July 2017. Through a contested bidding process and eventual court ruling, Morehead Memorial was acquired by UNC Health Care. UNC Health Care assumes ownership of Morehead Memorial on January 1, 2018, and is committed to keeping it open for at least five years, while also investing $20 million over the next three years.