Records: Nason owner owes $15M, could lose 4 offices

TD Bank claims in lawsuits that the owners of Nason Medical Center owe the bank $15 million.

The company that owns Nason Medical Center could lose four urgent care offices if it cannot repay its lender $15 million in mortgage loans, court records show.

TD Bank filed lawsuits in Charleston County Circuit Court against the owners of the urgent care network earlier this year.

The bank says Nason Medical Center owners owe $3.9 million for the Rivers Avenue office in North Charleston, $3.9 million for the University Boulevard office in North Charleston, $3 million for the Mount Pleasant office on Bowman Road and $4.4 million for the James Island office on Folly Road.

Charleston County assessed each of the properties at between $2.4 million and $3 million. County records indicate the owners are up to date on their taxes.

The foreclosure cases have not been settled.

At least three Nason Medical Centers have recently closed with little explanation.

A sign on the door of the Mount Pleasant office indicated this week that it was closed on Monday, but it did not explain if or when it will reopen.

The Nason Medical Center corporate office did not return a call placed earlier this week about the closures. Dr. Barron Nason, one of the business partners who owns the medical practice, has not returned multiple calls seeking comment.

We're starting a weekly newsletter about the business stories that are shaping Charleston and South Carolina. Get ahead with us - it's free.

The owners agreed to pay the federal government more than $1 million earlier this year to settle allegations of Medicare and Medicaid fraud.

In an interview with The Post and Courier last year, Nason acknowledged that his debts were significant.

“I guaranteed every loan,” he said. “It’s a tremendous debt, a tremendous risk, even today. All my chips are in the middle of the table. It’s all or none. We continue growing and prosper — that’s the only way I know how to do things. Failure’s not an option.”

Reach Lauren Sausser at (843) 937-5598.