CRMC Board votes to dissolve CRH and divest assets

By Michelle Price
UCBJ Managing Editor

COOKEVILLE – The Board of Trustees of Cookeville Regional Medical Center Authority met on March 6 and voted unanimously to approve the complete liquidation and dissolution of Cumberland River Hospital (CRH) in Celina and to dispose of all assets. 

Luke Hill, CRMC chief legal counsel, reviewed the resolution and the recommendations that were presented to the board.

“We sent a team up on Friday (March 1) to do an inventory of all assets,” said Hill. “This is required as pursuant to our obligations to the Attorney General for dissolution of a non-profit entity.”

Non-real estate assets were valued at approximately $633,052.74 and included items such as equipment, furniture, IT equipment, medical equipment, office supplies and general supplies.  

The disposition of these assets was broken into three categories: assets anticipated to be transferred to CRMC ($401,281.74), assets anticipated to be sold ($221,771.00) and assets anticipated to be donated or disposed of ($1,000).

The CRH real property is owned by and deeded to the city of Cookeville, so the Cookeville City Council will ultimately decide the future status of that property. As part of the resolution, the board recommended to the city council to surplus the real estate and enter into a process to sell the property. 

Following a review of the resolution of the plan, a roll call vote was taken and approved unanimously.

A roll call vote was also taken to authorize Paul Korth to sign the written consent to dissolve the CRH corporation and it passed unanimously.

Emily D. “Trudy” Webber, a Celina resident, was the only one who chose to speak when the board opened the meeting to comments. 

“We certainly appreciate what you have done for us and we hope that we can work … to see if there’s some way that we can obtain a buyer and go forth some way on our own,” she said. “I know it would take a lot of taxes for us to have the kind of facility you have here. We don’t wish to have this type of facility. We were happy with what we had.”

“And we know that Mr. Korth, this was not in your hands,” she added. “It’s just a fact of the economy and the politics right now, but we want very much to have your support if we could obtain the facility.”

Michelle Price is the managing editor of the Upper Cumberland Business Journal and can be reached via email. Send an email.

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