A hospital in Louisiana, owned in part by Wichita-based CHA, has been sold to its creditor.
Louisiana Hospital Center was built in 2006 in Hammond, about 55 miles north of New Orleans, but it never opened. It went into federal bankruptcy protection in May.
CHA, formerly known as Cardiovascular Hospitals of America, was a partner in the project with physicians and private investors. CHA is led by Wichita cardiovascular surgeon Badr Idbeis.
Malik Idbeis, vice president for communication at CHA, said, "What happened was the court ruled that the hospital should be credited to GE for $7.9 million, so in essence they took it back."
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GE Commercial Financial Business Property Corp. purchased bonds sold to build the hospital. Louisiana Hospital Center owed GE $24 million.
The bankruptcy court sale was Wednesday.
Idbeis said disagreements among partners kept the hospital from opening. "You could probably open it up in six months without trying too hard," he said. "I think they could use the hospital, so I hope they get it open."
He said he wasn't sure where the sale left CHA, its partners and the hospital. "It's kind of just a loss at this point, I guess," he said. "I'm sure GE doesn't want it, so I'm sure they'll try to find a buyer."
CHA also is awaiting a determination in a bankruptcy filing for its Hawaii Medical Center in Honolulu. CHA purchased the medical center, which has two campuses, in 2007.