3-hospital system in Mississippi up for sale

Potential buyers can now submit offers for Singing River Health System, a three-hospital system with locations in Ocean Springs, Pascagoula and Gulfport, Miss., local news outlet WLOX reported Nov. 14. 

On Nov. 14, supervisors from Jackson County — which owns the health systems — gave the green light for proposals to sell Singing River Health System. Potential buyers have until March 10 to submit their bids.

Jackson County supervisors aim to select the best bid and begin negotiations with that group by April 14, 2023, according to the report. 

Singing River Health System is the second-largest employer in Jackson County with about 3,500 employees, according to WLOX. Its board of trustees has already approved a sale, saying the system is struggling financially, with losses due to the COVID-19 pandemic a contributing factor.

Country supervisors are looking for a buyer that "can commit to being a capital partner, pay off or assume bond and pension debt, meet specific financial metrics including $2 billion in annual revenue and continue to invest in Epic," according to singingriverforward.com, a website that provides updates on the sale process.

Copyright © 2023 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars