LGH changes hands, name
Former CEO Tom Stone said the actual sale price was $36 million, with somewhere between $6 million and $7 million in working capital, making the net sale price between $42 million and $43 million.
“That will amount to about $20.3 million for a local public health foundation,” Stone said. “The rest will go to pay off Lincoln General’s three partners: Glenwood Regional Medical Center, St. Francis Regional Medical Center and Willis-Knighton Hospital in Shreveport.
Stone said by law, it will take at least several years to shut down Lincoln Health Systems.