The 10 parties, all connected to the healthcare industry, signed confidentiality agreements that allow them to access more details about the bankrupt hospital system’s finances.
Although the parties signed nondisclosure agreements, it doesn’t mean they will all make a bid, but LRGHealthcare CEO Kevin Donovan said he thinks that some will make an offer at the Dec. 16 auction.
“I expect it will be greater than one and less than 10,” Mr. Donovan at a creditors hearing, according to the Concord Monitor.
LRGHealthcare, a two-hospital system in Laconia, N.H., filed for Chapter 11 bankruptcy protection Oct. 19. The bankruptcy filing will help the system relieve its debt load of more than $100 million.
One known bidder is Concord (N.H.) Hospital, which made an initial bid of $30 million to purchase LRGHealthcare’s assets, which include two hospitals and a network of ambulatory care centers.
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