Lackey purchases former parent company, Pioneer HealthBy TIM GETER,
According to a report last week in the Magee Courier newspaper, a newly formed company, Ascentium Healthcare Resources, owned by Lackey Memorial Hospital, has purchased the bankrupt Pioneer Health Services, the former parent company of Lackey.
Lackey Memorial Hospital CEO Sidney Sawyer said the deal has been approved by the Federal Court System, and will finalize on December 31.
Sawyer has been CEO for Lackey for the past two years. In an interview with the Scott County Times, Sawyer said, “Pioneer went bankrupt in 2016. Six months ago a private company which at the time was appointed by the court to run the company (Pioneer Health Services), approached us about purchasing the assets of pioneer.”
After Lackey’s bid of $175,000 of assets was accepted, the new company is registered with the Secretary of State’s office as “Ascentium Healthcare Resources, Inc.” The effective date of this registration was October 9 and the officers and directors is listed as of Keely McNulty. AHR will essentially be keeping at least 60 employees still in Simpson County under this newly adapted company.
Pioneer filed volunteer bankruptcy in March of 2016 and has come under the direction of the Federal Court System. Lackey was not included in the bankruptcy filing.
Ascentium will also acquire facilities in Scott as well as Newton Counties.