Fort Smith Regional Healthcare Foundation / Sparks Regional Medical Center

Sparks is a community hospital that sold the fixed assets and inventory to health management associates (hma) on november 30, 2009 and retained the patient accounts receivable and liabilities. Sparks continues to unwind the old business by liquidating the a/r and paying off the liabilities. On april 28, 2014 the board passed a resolution to contribute up to $50,000,000 as a restricted contribution in support of developing an institution of health education. All assets that remain following the completed unwinding of the old hospital business will be gifted to support an institution of health education.as noted in previous filings, the organization expects to dissolve following complete unwinding of all business and any remaining assets will be gifted to Arkansas colleges of health education in support of an institution of health education.