Americore receives bailout, puts 3 hospitals on the market

Americore Holdings is seeking bids on three hospitals in Arkansas, Missouri and Pennsylvania, according to Bloomberg

Americore and its affiliated hospitals filed for Chapter 11 bankruptcy in December 2019 after months of financial troubles. The hospital group's cash troubles were recently relieved by grants provided under the Coronavirus Aid, Relief and Economic Security Act, according to the report. 

Americore received about $834,000 of aid for St. Alexius Hospital in St. Louis, roughly $250,000 for Izard County Medical Center in Calico Rock, Ark., and some $1.8 million for Ellwood (Pa.) City Medical Center, which closed in December. 

After receiving the funds, which an attorney for the bankruptcy trustee described as a "breakthrough," Americore is trying to sell the three hospitals. As of April 21, the hospitals had drawn interest from six potential buyers, according to Bloomberg

More articles on healthcare finance:
More than $1B in bailout funds go to CHS, HCA and UHS
Cash crunch from COVID-19 could force 100 hospitals to close
CHS turns a profit in Q1 as it nears end of hospital divestiture spree

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