A federal judge will allow a California-based investment firm to purchase West Virginia's Fairmont General Hospital out of bankruptcy for $15 million, Dow Jones Daily Bankruptcy Review reported today. According to court records, Judge Patrick M. Flatley plans to approve the offer for the 207-bed hospital from Alecto Healthcare Services LLC, which is expected to continue operating the facility located about 90 miles south of Pittsburgh. The Long Beach, Calif.-based Alecto promised to pay another $300,000 one year after the deal closes and spend at least $5 million on hospital improvements during the next two years, according to earlier court documents.
