Dateline: December 13, 2007

Nursing Home sale contract is approved   

The contract has been signed, but it will still be several months before the Medical Center Nursing Home becomes privately owned.

The Donley County Hospital Board met in a called session last Thursday night to ink the deal with Community Care Management.

The Denton-based company will pay $1.25 million for the facility, and $10,000 was put up as escrow money.

Closing on the contract won’t take place until at least mid-March, however. That’s because the sale is dependent on the hospital district, completing the addition of four semi-private rooms to the facility. That $373,000 expansion is already underway on the west wing of MCNH.

Proceeds from the sale will go into an escrow fund that will go toward paying off $1.3 million in bonds the district owes from remodeling the facility. District officials say they won’t know what interest rate that escrow will earn until the sale is closed.

Community Care Management was represented at Thursday’s meeting by Royce Freebourn, C.J. Prater, and Larry Owen.