The Times West Virginian

September 5, 2013

Bankruptcy won’t stall FGH search

Marquardt: Process may bolster move for hospital to get a strategic partner

By Mary Wade Burnside
Times West Virginian

FAIRMONT — The search for a strategic partner for Fairmont General Hospital probably will not be stalled by the facility’s Tuesday filing for Chapter 11 bankruptcy, and in fact might be bolstered by it, said president and CEO Robert C. Marquardt.

“There is every possibility that someone will step in right in the middle of the process,” Marquardt said. “Not only is the potential there, but also that people or organizations that perhaps in the past had not expressed an interest will express an interest as they see us going through this process.”

The 94-page filing took place late Tuesday in U.S. Bankruptcy Court in Wheeling and showed that the hospital has $10 million to $50 million in both assets and liabilities, according to the Associated Press. WesBanco Trust and Investment Services of Wheeling is its single largest creditor, owed more than $12 million for bonds. Several others are owed more than $1 million.

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