NATCHEZ REGIONAL MEDICAL CENTER BEGINS FORMAL RESTRUCTURING PROCESS NRMC Will File a Formal Plan of Reorganization with the United States Bankruptcy Court on February 12 The Board of Trustees of Natchez Regional Medical Center voted unanimously on January 21, 2009 to move forward with the next step in the hospital’s long planned financial restructuring. As part of the process, on Thursday, February 12, the Medical Center will file a formal Plan of Reorganization with the United States Bankruptcy Court for the Northern District of Mississippi. As hospital CEO Scott Phillips has stated since his arrival in April 2008, the hospital is not bankrupt, but will use the bankruptcy process to complete the financial restructuring and reorganization that was begun almost a year ago. The plan of reorganization provides that all of our creditors will be “Paid in Full” and we will be able to present a clean title of ownership to the potential buyer. Specific attention has been given to local merchants to minimize the impact on the local economy. Also of importance to note, all vendors doing business with Natchez Regional Medical Center will continue to be paid for services provided after February 12 in the normal course of business. “It is very important that the bankruptcy filing is looked upon as just a technicality,” said Phillips. “The hospital is well staffed and supplied and has the ability to provide outstanding healthcare services to the community. The employees of Natchez Regional have done a phenomenal job in transforming our hospital and providing warm, compassionate care to our patients. We are stronger than ever and look forward to a bright future,” concluded Phillips. Dan Bland, Chairman of the Board of Trustees, reiterates the importance of moving forward with the bankruptcy. “Conducting the sale of the hospital in the Bankruptcy Court has always been a requirement of this sales process,” said Bland. “The filing in no way should be looked upon as negative; instead, it is part of righting the ship and moving forward. The Board is pleased with the progress the employees and management staff have made, and we look forward to the community reaping the benefits of their hard work and continued success,” concluded Bland. Henry Watts, President of the Adams County Board of Supervisors, is also in agreement that it is time to move forward with the bankruptcy. “While the negotiations are still ongoing with a potential buyer, the decision to move forward with the bankruptcy will only enhance the proposed sale,” said Watts. “The potential buyer of the hospital continues to actively prepare for the sales process, and the bankruptcy proceedings are a part of that process,” added Watts. In the meantime, Natchez Regional Medical Centers continues to make great strides in operations and renovations. Contracts have been awarded for renovation in the Radiology Department. This program will add mammography, ultrasound, bone density scanning, and a state-of-the-art digital imaging suite for the Emergency Department. These improvements are in addition to a recently completed $700,000 sophisticated communications system for transmitting x-rays and other imaging studies “real time” over the internet to our nursing units and physician offices. With these additions, Natchez Regional will have the most modern and comprehensive imaging department in the Miss-Lou region. According to Dr. Ed Daly, Chief of Staff at Natchez Regional, the hospital has never looked better. “Employees and managers have done an outstanding job in keeping their focus on the patient and meeting their needs during the past year,” said Daly. Daly added, “There is a sense of pride and ownership among the employees that has created a very positive and upbeat environment that translates into quality patient care. I would encourage anyone interested to call the hospital and arrange for a tour of the facilities. The staff is anxious to show the community how good things really are at NRMC.”