Photo: KGAN
(Iowa City, IA) -- The Iowa Board of Regents approved University of Iowa's plans to purchase Mercy Iowa City for $20 million on Tuesday. Mercy filed for Chapter 11 bankruptcy organization after a Texas-based investor went to court to force the hospital into receivership with the intention of taking over the facility. A bankruptcy judge would still need to approve the purchase. University of Iowa is asking the judge to resolve the issue by September or October.
Photo Credit: KGAN