Jackson Hospital Seeks Crucial Loan Guarantee

Jackson Hospital in Montgomery is facing severe financial difficulties and seeking a $20.5 million loan guarantee from the City of Montgomery to avoid closure. The hospital has struggled with pandemic-related costs, low insurance reimbursements, and missed a $60 million interest payment, leading to a downgrade of its bond rating. The Montgomery City Council is set to vote on whether to provide this guarantee, which is crucial for the hospital's survival as Montgomery County declined similar support. Interim CEO Ron Dreskin and Chief Restructuring Officer Allen Wyland have emphasized that the city would not provide direct funding but rather guarantee the loan. Council Member Marche Johnson acknowledges the hospital's importance but warns that city support alone is not a long-term solution. Hospital employees and community members rallied to show support, stressing the hospital's essential role in the community.