A bankruptcy judge approved the deal Dec. 24. Concord Hospital was the only healthcare organization to submit a bid for LRGHealthcare by the court deadline.
“Our goal in acquiring the two Lakes Region hospitals is to build a sustainable health system in the region,” Concord Hospital President and CEO Robert Steigmeyer said in a statement to The Laconia Daily Sun. “Lakes Region communities need access to local health care and our intent is to keep services in the communities and accessible to all.”
The sale requires approval by the state attorney general’s office.
LRGHealthcare filed for bankruptcy in October.
More articles on healthcare industry transactions:
Tenet, Methodist Le Bonheur abandon $350M deal after FTC challenge
Massachusetts hospitals file merger plan
For-profit hospital M&A update: 14 deals involving CHS, Tenet and HCA
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