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Bankrupt Mississippi hospital receives takeover bid

Knoxville, Tenn.-based Curae Health and its three hospitals in Mississippi entered Chapter 11 bankruptcy protection in August. Now, Tupelo-based North Mississippi Health Services is slated to take over one of Curae's hospitals, according to the Daily Journal

The bankruptcy court confirmed Nov. 12 that NMHS was the only health system to bid on Gilmore Memorial Hospital in Armory, Miss. NMHS' bid included $10.5 million in cash and the assumption of the hospital's liabilities and financial commitments, according to the report.

"We are extremely happy with the outcome of the bidding process and look forward to becoming a part of the North Mississippi Health Services family," Gilmore Memorial Hospital CEO J. Allen Tyra said.

The bankruptcy court is scheduled to review the sale order later this month. 

"Assuming approval of the sale order by the court on Nov. 27, the debtors, creditors, North Mississippi Health Services and the court will work toward finalizing the sale transaction by the end of 2018," NMHS said in a prepared statement.

More articles on healthcare industry transactions:

CHS to divest 2 South Carolina hospitals by Dec. 31
Shuttered California hospital receives 2 proposals to reopen
HCA merges 2 Florida hospitals

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