Hutcheson Completes Sale Of Battlefield Imaging, Repays Walker County Loan With Interest

Wednesday, July 02, 2014

Hutcheson Hospital Authority has sold its 51 percent interest in Battlefield Imaging to co-owner Digital Imaging of North Georgia for $5.2 million. A portion of the proceeds from the sale have been used to repay loans from Walker County, and the remainder will be invested to accelerate the hospital’s ongoing turnaround and pave the way for a comprehensive refinancing of the north Georgia regional hospital’s debt. 

Earlier this year, Walker County Sole Commissioner Bebe Heiskell granted the hospital a $1 million line of credit for temporary cash flow needs pending the sale of the Battlefield Imaging interests. Hutcheson drew down $650,000 in principal on that line of credit, and is paying the loan back with five percent interest calculated from the date of drawdowns, for a total payment of $652,804.79. 

Under the leadership of Dr. Mike Aiken’s GB Health Management and CEO Farrell Hayes, the executive management team is implementing a strategic plan to accelerate the hospital’s financial recovery in the wake of mismanagement by its previous managing partner, Erlanger Health System, and prior administrations. The plan will define and grow the services that are most beneficial to the community and allow the hospital to thrive, including cardiology, pulmonology, gastroenterology, orthopedics, oncology and general surgery. 

Hutcheson Medical Center has worked closely with the physician owners of Digital Imaging of North Georgia through its Diagnostic Radiology Consultants (DRC) affiliate in providing leading edge imaging services to the patients of north Georgia since 1992. In 2004, Hutcheson Medical Center and DRC designed and opened Battlefield Imaging, the area's only full service, all-digital outpatient imaging center. The facility is located in the Hutcheson on the Parkway campus on Battlefield Parkway adjacent to the hospital’s outpatient surgery and cancer center. A provision in the sale agreement with Digital Imaging of North Georgia allows Hutcheson to buy back its controlling interest in Battlefield Imaging within two years. 

“We are grateful  to Commissioner Heiskell and Walker County and certainly Regions Bank for their support as we continue to move toward  reclaiming our position as the healthcare leader for this region,” said Dr. Aiken, whose health care management and consulting company is overseeing the hospital’s long-term financial success. 


Debra Chew: Spiritual Well-Being And Surviving Breast Cancer

I don’t look good in pink – but October is pink-out month - and it is everywhere for National Breast Cancer Awareness Month.  The U.S. and world awareness of this important issue for women’s health is particularly important to me, for I am the daughter of a breast cancer survivor.  This year, as so many lined up at the World’s Fair Park for the Race for the Cure, I was ... (click for more)

Chattanooga-Based Company On The Frontline Of Ebola Response

The transport of patients who have contracted the Ebola virus from West Africa to sites in America including Emory University, the University of Nebraska, and the National Institutes of Health has involved rigorous containment protocols and infectious disease decontamination measures directed and implemented by SafetyPlus, LLC, a single source company specializing in solutions in ... (click for more)

Chattanooga Firm Gets $1,010,000 Contract For Overseeing VW Expansion For New SUV Line

A Chattanooga firm is getting the contract for overseeing the construction work for the new SUV line at the Volkswagen plant. Officials said the EMJ Corporation has been selected for the project that will give a new surge of activity and employment at the plant at the Enterprise South Industrial Park. The work includes additions to the body shop and tech center and adding ... (click for more)

Several Arrested Outside Erlanger Hospital When Crowd Gathers After Woodlawn Shooting

Several people were arrested Monday night outside Erlanger Hospital after a crowd gathered and clashed with police. The crowd included family and friends of 20-year-old Apprentice Berry, who was shot multiple times and killed earlier Monday night at the Woodlawn Apartments on Wilson Street. Erlanger officials said the group gathered at the emergency room, but were later moved ... (click for more)

Chairs Cost How Much?

Many times while growing up, I would go to the store with my parents. More often than not, I would see something I wanted, and ask my parents to buy it for me. More often than not, they said no. “Why?” I asked. “Son, money doesn’t grow on trees.” That’s a phrase I’m sure many of us have heard more than once over the course of our lives. However, I have since learned that they were ... (click for more)

Roy Exum: My Dear Friend Luther

One sunny morning in June years ago, the renowned radio icon Luther Masingill was on his way back to the WDEF studios on South Broad Street when he stopped for a red light and noticed a young couple in a car idling next to his familiar light blue Ford pickup. “What caught my eye was a buck-toothed boy eating a banana in the back seat,” he explained in an aside to that day’s lunchtime ... (click for more)