The sale of Galesburg Cottage Hospital was completed as of midnight Wednesday.
The hospital is now under the ownership of SBJ Group Inc., based in Austin, Texas
SBJ’s President Dr. Sanjay Sharma says they “plan to improve upon growth strategies to meet the needs of the communities that Galesburg College Hospital serves.”
Sharma says that SBJ has been working in the healthcare industry nationally for over 20 years and plans to continue providing “compassionate care” and leadership that the communities of Western Illinois have come to depend on.
Cottage announced in April they were entering a financial restructuring agreement.
The sale finalization came just a little under a month past when Cottage CEO Bob Moore expected the deal to be done.
Back in April, he gave May 31 as the date the sale was likely to be closed.
Galesburg Cottage Hospital and Cottage Clinics employs 389 staff members including physicians, nurses and other clinical and non-clinical professionals.