Phoebe awaits SUPCO decision, approves bond sales - WALB.com, Albany News, Weather, Sports

Phoebe awaits SUPCO decision, approves bond sales

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ALBANY, GA (WALB) -

 The Hospital Authority of Albany and Dougherty County is awaiting the U.S. Supreme Court's decision on their purchase of Palmyra Hospital.

Board members talked about the case in their meeting Friday morning. We're told both sides were given 30 minutes each to present their case and the Justices asked questions.

A lower court threw out the FTC's challenge of the purchase and the FTC appealed to the Supreme Court.

Phoebe Putney Hospital's attorney Tommy Chambless says they are pleased in the way their case was presented.

"You never really are safe predicting what the nine Supreme Court Justices might do with the matter."

The Supreme Court is expected to rule on the case in early Spring.

The Hospital Authority Of Albany Dougherty County also approved the selling of $107 million worth of bonds Friday.

They refinanced the loan used to buy Palmyra Hospital because they were able to get a better interest rate.

Board officials believe this deal will help the company reach their long term financial success. Brokers will sell the bonds starting at $5,000.

 

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