Floyd County approves sale of hospital to Baptist Health

NEW ALBANY, Ind. (AP) – Officials in Floyd County have voted nearly unanimously to sell Floyd Memorial hospital to Baptist Health for more than $130 million and about $140 million in improvements.

The county commissioners, the County Council and hospital board of trustees passed a joint resolution 18-1 Tuesday to approve the deal with Louisville, Kentucky-based Baptist.

County Commissioner Chuck Freiberger voted against the sale, calling it a bad deal for the county.

The deal is expected to close Sept. 30, and the 236-bed hospital will be renamed Baptist Health Floyd.

Floyd County will receive $75 million at closing, and Baptist will pay an additional $61 million over 10 years, with about 92 percent of the payments going to the county and the rest to the hospital’s foundation or a similar group.

Copyright 2016 The Associated Press.