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Bankrupt Philadelphia health system receives $10M bid for hospital

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Brentwood, Tenn.-based Meridian Behavioral Health Systems has offered to buy Girard Medical Center in Philadelphia from North Philadelphia Health System for $10 million, according to The Philadelphia Inquirer.

North Philadelphia Health System, which filed for bankruptcy in December 2016, currently only operates Girard Medical Center, a psychiatric hospital. Prior to entering the bankruptcy process, the system closed St. Joseph's Hospital in Philadelphia. The system sold St. Joseph's early 2017.

Girard Medical Center will be auctioned off later this year, and Meridian's bid will set the baseline. A system spokeswoman told The Philadelphia Inquirer the system is pleased Meridian Behavioral Health Systems is interested in acquiring the psychiatric hospital.  

More articles on healthcare industry transactions:

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Laughlin Memorial, MSHA to finalize merger agreement

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