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FGH Sale Approved By State Economic Development Authority
Written by Lindsey Watson
Last updated on August 22, 2014 @ 11:08PM
Created on August 22, 2014 @ 11:03AM
 
The transfer of Fairmont General Hospital to a private California based company has been approved by the State Economic Development Authority.
 
According to reports, Alecto Healthcare Services was awarded the hospital on Thursday after the WVEDA approved a resolution to acquire the property from the city of Fairmont, which ultimately took away any liability connected to the sale, or the property itself.
 
A U.S. Bankruptcy judge approved the sale earlier this year, after no other companies came forward to post there bids on FGH.
 
The WVEDA had to be involved because state code prevents municipalities from selling property directly to corporations, and Fairmont owned the property.
 
As you may remember, Alecto won the rights to the facility with a $15.3 million dollar bid after FGH filed for chapter 11 bankruptcy in September, 2013.

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