According to a report from The Associated Press, Steward Health Care, the Wadley Regional Medical Center operator, has revealed plans to sell off all of its hospitals. This announcement comes in the wake of the company’s recent declaration of Chapter 11 bankruptcy last week.
In response to these developments, a local nonprofit entity, the Southwest Arkansas Healthcare Authority, to ensure stability and devise a sustainable solution for healthcare services in the region.
Anna Lee Powell, a board member of the Southwest Arkansas Healthcare Authority, emphasizes their mission to uphold the quality healthcare services across Southwest Arkansas amidst these changes.
Meanwhile, Steward Health Care is actively negotiating a financing arrangement with Medical Properties Trust, a real estate investment firm specializing in healthcare. This partnership is intended to facilitate the uninterrupted day-to-day operations of all hospitals under Steward’s purview, including those in Texarkana, Texas, and Hope, Arkansas, during the bankruptcy process.
Powell commends these efforts, highlighting the detrimental impact of shuttered healthcare facilities on local communities.
The Southwest Arkansas Healthcare Authority pledges to closely monitor the situation and advocate for reputable, community-minded partners to safeguard the region’s healthcare interests.
Acknowledging the uncertainty facing healthcare workers and patients due to external circumstances, Powell emphasizes that the situation does not reflect the dedication of local healthcare professionals or the quality of care provided at Wadley.
Despite the uncertainties surrounding the future of these hospitals, construction of the new Wadley medical campus in Texarkana, Texas, initiated in 2021, is still in progress. Robins and Morton, the project’s general contractor, confirm that work paused briefly in February, and has resumed under a new contract secured in April. While the identity of the new client remains undisclosed, efforts are underway to establish a revised timeline for project completion.
