Investigation Underway Into Americore Finances

According to multiple news reports and websites on Friday, a search warrant served by the Lawrence County District Attorney offices has opened up the investigation into the finances of Florida-based Americore and CEO Grant White.

According to a published New Castle News report, the affidavit highlights interviews “management level personnel who have direct knowledge of the financial distress at ECMC.” It clearly showcases Americore Health and its problems making payroll starting in August.

Among a notable find in what investigation are calling ‘theft of services’ is Americore has access to $6.5 million in cash following lines of credit taken out in October and November, but is failing to pay employees, emergency room doctors, equipment loans, and vendors.

It was detailed by the Beaver County Times on Friday that workers learned they were only getting partially paid by way of minimum wage for their paychecks, with their remaining regular hourly wages owed to them.

U.S. Representative Mike Kelly and local lawmakers called for this investigation earlier this month, while some area residents looked a crowdfunding platform as a means to help those employees without pay.  The Ellwood City borough council plans to vote on Monday on a motion to eliminate late fees on electric charges for the hospital and its affected employees.

According to LeeDaily.com, Americore also regularly fails to pay its employees on time at Southeastern Kentucky Medical Center in Pineville, Kentucky.  A Lee County Hospital recently decided to part ways with Americore after the company defaulted on the terms of the asset purchase agreement.

Reports emerged earlier in January and were confirmed in the affidavit that a Delaware bankruptcy judge has, indeed, approved Promise Healthcare Group’s $10 million cash sale of St Alexius hospital in St Louis to Americore Holdings. Closing is scheduled for the end of the month.

Americore Health purchased the Ellwood City Medical Center in October 2017.