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Bankrupt North Carolina hospital attracts 7 bidders

Two health systems and three medical service companies submitted bids this week for all or part of Eden, N.C.-based Morehead Memorial Hospital's assets, according to the Greensboro News & Record.

Morehead Memorial, which includes a 108-bed hospital, a 121-bed skilled nursing facility and several medical offices, filed for Chapter 11 bankruptcy in July. At that time, the hospital said the filing would allow it to restructure its debt and improve its chances of finding a strategic partner.

Documents filed in the bankruptcy case this week show the following seven health systems and companies placed bids on Morehead Memorial's assets: Greensboro, N.C.-based Moses H. Cone Memorial Operating Corp.; Chapel Hill, N.C.-based University of North Carolina Health Care System; Greensboro-based Advanced Home Care; Wilmington. N.C.-based Liberty Health Care Management; Nyack, N.Y.-based Radiant Healthcare Group; Raleigh, N.C.-based First Citizens Bank & Trust; and Miami-based Empower iHCC.

The bankruptcy documents did not specify whether the organizations submitted bids for Morehead Memorial's entire operation or only select assets.

Morehead Memorial officials will choose among the bidders next week, and the bankruptcy court will review the hospital's selection on Nov. 6, according to the report. 

More articles on healthcare industry transactions:

Value of healthcare deals drops 16% in Q3: PwC
S&P wary of proposed Partners HealthCare, Care New England deal
Wake Forest Baptist to purchase High Point Regional

 

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