New owners of Troy Hospital

Posted by Hannah Lane  -  bio | email

MONTGOMERY, AL (WSFA) - The only major healthcare facility between Montgomery and Dothan is up for changes.

Troy Regional Medical Center will soon come under the city's ownership.

Mayor Jimmy Lunsford says he's set up a long term lease agreement with the doctors and is treating it like an industrial development project.

The lease offers a lower interest rate which is a plus for the doctors as they pay it back.

It also give the city a chance to take over the facilities if the hospital fails.

The hospital boasts its financial strength is improving and it will not default on the lease.

Troy Local Doctors, LLC has owned the hospital since January of last year.

This agreement will last for 20 to 25 years.

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