A bankruptcy judge approved the pending sale of Parkview Adventist Medical Center to its nearby rival, Mid Coast Hospital, the Portland (Maine) Press Herald reported on Saturday. Bankruptcy Judge Peter Cary signed the order on Thursday allowing the merger of the two Brunswick hospitals to proceed as part of a bankruptcy action filed in June by Parkview. The order stipulates that approval of the sale is in the best interests of the Parkview, the bankruptcy estate and its creditors. The terms of the agreement calls for Mid Coast to pay Parkview $3.8 million at the closing, to forgive $579,540 of an advance it gave to Parkview during the bankruptcy proceeding and to commit $1 million each year for three consecutive into the Parkview campus. All 190 Parkview employees are expected to be rehired by Mid Coast.
