By Josh Mitchell
Corinth Today News Editor
The company that operates a 95-bed nursing center in Corinth is filing for bankruptcy.
Orianna Health Systems, which operates Cornerstone Rehabilitation and Healthcare Center on Alcorn Drive in Corinth, recently announced that it has voluntarily initiated “Chapter 11 bankruptcy cases to implement a comprehensive financial restructuring.”
The company believes the bankruptcy process will result in a “comprehensive debt solution,” an Orianna statement said.
Twenty-two of the company’s facilities will be transitioned to operators that have “long-standing” relationships with Orianna’s landlord, Omega, the statement added. The other 20 facilities will be restructured under the Chapter 11 bankruptcy process.
It is unclear which group the Corinth facility will fall into. The Corinth administrator was unavailable for comment Tuesday, and emails to Orianna were not immediately returned.
“The pending bankruptcy cases will not have an impact on normal day-to-day operations, and our dedicated employees will continue to focus on providing the quality, resident-focused care that our residents require and deserve,” the statement added.
Orianna has “continued to evolve to meet the needs and growing demands of our expanding business. But the company said, “it has become clear that in order to continue moving forward, Orianna needs to be financially restructured.”
The Cornerstone Rehabilitation and Healthcare Center website says the facility is “conveniently located across the street” from Magnolia Regional Health Center and helps patients make a smooth transition from hospital to home. Cornerstone service include orthopedic, neurological, cardiac, pulmonary and wound care, the website added.
Orianna has more than 40 locations across seven states, 13 of which are in Mississippi.