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Investor pushes for Mercy Iowa City to be placed in court-appointed receivership after financial troubles

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Investor pushes for Mercy Iowa City to be placed in court-appointed receivership after financial troubles


IOWA CITY, Iowa (KCRG) – A financial investor in Mercy Iowa City announced on Monday its desire for the community hospital to be placed on a court-appointed receivership after the hospital received notice that it defaulted on its bond agreement.

In a message sent to hospital employees and staff on July 21st, the hospital stated that it received notice that its bondholder considers the hospital in default on its bond agreements. Mercy Iowa City disputes the claim, stating that they have made all of the payments on the bond as required.

Financial investor in the hospital, Preston Hollow Community Capital, responded to the report of the bond default on Monday. They request that Mercy Iowa City be placed in a court-appointed receivership in order to “stabilize itself” from unsustainable financial losses.

You can read their full statement below:

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“In 2018, Preston Hollow Community Capital was pleased to make a substantial investment in Mercy Iowa City in order to support the hospital’s mission of ensuring families in Johnson County and eastern Iowa have access to high-quality, affordable healthcare services. Unfortunately, since that time the Mercy Iowa City board of directors has made a series of decisions that have put that mission at risk, along with the Hospital’s ability to meet its financial obligations to their talented team of nurses, doctors, and more.

With the board having refused to shift its approach to address these issues and with the hospital now on the verge of insolvency, the choice remaining for Preston Hollow Community Capital is to request that Mercy Iowa City be placed in a court-appointed receivership in order to stem its unsustainable financial losses, stabilize its operations and avoid a closure of the facility.

We hope this step will provide a framework for a rehabilitation and recapitalization of Mercy Iowa City and ensure that its existing patients continue to receive the care they need and have multiple options where they can access health care services.”

This comes not long after the hospital’s credit rating was downgraded in March 2023, after having outstanding debt at the close of the 2022 budget year.

Mercy Iowa City is reportedly reviewing Preston Hollow’s statement but has not provided an updated response to KCRG-TV9 at this time.

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Iowa football roster cuts have made for a challenging December

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Iowa football roster cuts have made for a challenging December


In October, preliminary approval was granted to the $2.8 billion House v. NCAA settlement.

One of the proposed pieces of the settlement terms includes maximum roster sizes in every Division I NCAA-sponsored sport. In FBS football, that maximum roster figure is 105 players.

The average roster size in college football was 121.4 players during the 2023 season. That means there are some tough conversations to be had nationally as coaches and programs work to trim their rosters down to the 105-player maximum before the beginning of the 2025-26 school year.

Iowa head football coach Kirk Ferentz discussed how the new roster limits have made for a challenging December.

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“Awful. It’s been the hardest part of this month. It could have been so easily avoided if we stair-stepped it. I’m sure it was a financial decision. Nobody asked me for my opinion or filled me in on the details. I’m sure it was a financial decision, like everything we do.

“I would argue whatever the dollar amount was, keep it the same and spread it out on 120, 118, spread it among 118 instead of 105 and not have bloodletting. That’s the regrettable part in my mind,” Ferentz said.

With the reality of the 105-player roster limit staring Iowa in the face, the Hawkeyes had those tough conversations this month. It’s evident by the amount of players that have departed Iowa’s program via the transfer portal.

Ferentz shared how the Hawkeyes approached those conversations with their players.

“There’s a couple ways to do it. I don’t know how other people are doing it. I’ve heard other people are approaching it differently. We felt very strongly as a staff we owed it to any player that might be in jeopardy to let them know the week following our last game what the status was, give them an opportunity to go out and prepare for whatever they want to prepare for.

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“We’ve had guys leave the program at that point. They’ve left the program. We have other guys that are going to go to other places but staying with the program throughout the bowl. Everybody is getting bowl gifts, all that stuff. Everybody had the opportunity to stay with us and go to the bowl site and finish out this with us as a team member. They had the option of doing whatever they wanted to do. We’ve had other guys leave and already find other homes. We just felt like it was the right thing to do to give them a chance if they want to prepare for the future, do it. If they want to stay here, that’s great, too. It was hard,” Ferentz said.

As Iowa looks toward the future, Ferentz expressed concerns with how teams will navigate injuries during a season with the 105-player roster limits.

“Then the whole next chapter is going to be really interesting, too, because practice with 105 guys in college football. This is not the NFL. Nobody even brought up what happens if a guy has a season-ending injury. We can’t go out and bring somebody in to replace that guy. It makes practice a challenge, makes developing a team a challenge.

“Those are questions or discussions for post January. I’m not looking forward to that. I think it impacts a program like ours more so than other people that recruit five-star athletes every year because they’re a little bit more readymade. That’s the way it goes. We’ll figure out a way to make it an advantage,” Ferentz said.

Contact/Follow us @HawkeyesWire on X and like our page on Facebook to follow ongoing coverage of Iowa news, notes and opinions.

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Miami (FL) vs. Iowa State Prediction, Odds, Picks – December 28, 2024

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Miami (FL) vs. Iowa State Prediction, Odds, Picks – December 28, 2024


Data Skrive

The Miami Hurricanes play the Iowa State Cyclones in the Pop-Tarts Bowl as 3.5-point favorites on December 28, 2024 at 3:30 p.m. ET on ABC. The over/under is 55.5.

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The Hurricanes lost to the Syracuse Orange, 42-38, in their last contest. In their last contest, the Cyclones lost against the Arizona State Sun Devils, 45-19.

Keep up with college football all season on FOX Sports.

USWNT dominates Guardians Top 100 & Christian Pulisic is the solo USMNT player | SOTU

Alexi Lalas and David Mosse reacted to Christian Pulisic being disrespected by the UK news outlet The Guardian, which ranked him as the 95th best soccer player in the world. On the other hand, the USWNT dominated the field, with five players in The Guardian’s Top 10 alone.

Miami (FL) vs. Iowa State Game Information & Odds

  • When: Saturday, December 28, 2024 at 3:30 p.m. ET
  • Location: Camping World Stadium in Orlando, Florida
  • TV: ABC
  • Live Box Score on FOX Sports

More College Football Predictions

Miami (FL) vs Iowa State Betting Information updated as of December 25, 2024, 9:45 p.m. ET.
Favorite Spread (Odds) Favorite Moneyline Underdog Moneyline Total Over Moneyline Under Moneyline
Miami (FL) -3.5 (-111) -172 +144 55.5 -112 -108

Miami (FL) vs. Iowa State Prediction

  • Pick ATS:

    Miami (FL) (-3.5)

  • Pick OU: Over (55.5)
  • Prediction: Miami (FL) 34, Iowa State 27

Predictions are made by the Data Skrive betting model.

Learn more about the Miami Hurricanes vs. the Iowa State Cyclones game on FOX Sports!

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Miami (FL) vs. Iowa State Betting Insights

  • Per the spread and over/under, the implied score for the game is Hurricanes 30, Cyclones 26.
  • The Hurricanes have a 63.2% chance to win this meeting per the moneyline’s implied probability. The Cyclones have a 41.0% implied probability.
  • Miami (FL) has put together a 7-5-0 ATS record so far this year.
  • Iowa State has put together a 7-5-0 ATS record so far this year.

Miami (FL) vs. Iowa State: 2024 Stats Comparison

Miami (FL) Iowa State
Off. Points per Game (Rank) 44.2 (2) 30.2 (37)
Def. Points per Game (Rank) 23.9 (52) 21.5 (46)
Turnovers Allowed (Rank) 13 (28) 15 (40)
Turnovers Forced (Rank) 18 (55) 21 (28)

Miami (FL) 2024 Key Players

Name Position Stats
Cameron Ward QB 4,123 YDS (67.4%) / 36 TD / 7 INT
196 RUSH YDS / 4 RUSH TD / 16.3 RUSH YPG
Xavier Restrepo WR 69 REC / 1,127 YDS / 11 TD / 93.9 YPG
Damien Martinez RB 823 YDS / 9 TD / 68.6 YPG / 5.7 YPC
16 REC / 198 REC YDS / 0 REC TD / 19.8 REC YPG
Jacolby George WR 51 REC / 728 YDS / 7 TD / 60.7 YPG
Francisco Mauigoa LB 87 TKL / 7 TFL / 2 SACK / 1 INT
Tyler Baron DL 37 TKL / 7 TFL / 5.5 SACK
Wesley Bissainthe LB 53 TKL / 3 TFL / 1 SACK / 1 INT
Mishael Powell DB 30 TKL / 2 TFL / 1 SACK / 5 INT

Iowa State 2024 Key Players

FOX Sports created this story using technology provided by Data Skrive and data from Sportradar.

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Iowa WR's absence on bowl game depth chart not a cause for concern

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Iowa WR's absence on bowl game depth chart not a cause for concern


The Iowa Hawkeyes (8-4, 6-3 Big Ten) recently revealed their depth chart against Missouri (9-3, 5-3 SEC) in the TransPerfect Music City Bowl.

Iowa freshman wide receiver Reece Vander Zee wasn’t listed, but Iowa head football coach Kirk Ferentz confirmed that it’s not a cause for concern.

“I don’t know when we wrote that depth chart, it was probably last month. He’s fine. Practicing well. In fact, coming off the field last night, asked him how he felt. He feels great. He’ll be in the rotation,” Ferentz said last Friday.

This update is consistent with what Ferentz has said in the buildup to the bowl game versus the Tigers.

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Ferentz said both Vander Zee and offensive tackle Gennings Dunker were tracking to play in the bowl game two weeks ago after Iowa’s bowl foe was revealed on Dec. 8.

“Yeah, both those guys are on track right now,” Ferentz said. “Not sure where they’re going to be this week, but I think we are a lot closer.

“Reece got to work—we worked a little bit on Friday—he was out there, so that looks really encouraging. Dunk’s probably a couple days away yet, but he’s doing really well, on a good path. Both those guys are eager to play.”

Vander Zee has caught 14 passes for 176 yards and three touchdowns during the 2024 season. The 6-foot-4, 207 pound freshman hasn’t played since starting but then subsequently exiting the Northwestern contest and sporting a walking boot.

Contact/Follow us @HawkeyesWire on X and like our page on Facebook to follow ongoing coverage of Iowa news, notes and opinions.

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