After Butler Health System did not meet financial covenants of their bond agreement, they are entering a forbearance plan.
At yesterday’s county commissioner meeting, a lawyer representing Butler Health System said that they did not have enough cash on hand over the last two years, which violated a clause in their bond issuance.
Since commissioners are the highest officials on the county’s Hospital Authority, they had to approve a plan of finance for the health system.
The representative of Butler Health System said that even though the hospital merged with Excela, the two still have independent financial obligations.
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