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Iron County Med Center to Remain Open After Agreement

(Pilot Knob) Iron County Medical Center in Pilot Knob has concluded mediation hearings to finalize a Chapter Nine bankruptcy agreement that will allow the hospital to remain open. The USDA holds the special revenue bonds that were issued to allow the Iron County hospital to be built back in 2006. Last year, a judge ordered hospital officials and the USDA to come up with a resolution to the case. The agreement has extended payment of the bonds out to 40 years at a favorable interest rate. This will allow the hospital to create a capital reserve to replace aging equipment and support relocation of the rural health clinic to the main campus and also to have up to 36 days of cash reserves on hand. The hospital in Pilot Knob is planning to schedule town hall meetings to answer any questions. We have reached out to CEO Joshua Gilmore several times for an interview on the proceedings and future of the hospital but have not heard back. We will continue to attempt to reach Gilmore for more information about this settlement.

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