Jackson Hospital working to address financial challenges [Video]

MONTGOMERY, Ala. (WSFA) – A Montgomery hospital is working with a restructuring officer to get its finances back on track.

Jackson Hospital has been facing financial challenges dating back to the pandemic, but a recent default in $60 million bond payments caused its credit to take a dip.

Prior to the bond going into default, the not-for-profit hospital went into an agreement with Humanity Corp. but later decided to amicably part ways.

Hospital board chairman Edward Crowell said board members are under contract with EisenAmper, a management consulting agency to settle debt payments.

“We didn’t have a problem that some immediate cash infusion would not help,” said Crowell.

The plan is to get up to an additional $30 million from third party lenders to pay for medical supplies and material to keep the hospital operating and pay down the bond.

Crowell said the hospital is also working with government entities to help bring the hospital out …