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North Carolina hospital receives 7 takeover bids

Randolph Health, a single-hospital system based in Asheboro, N.C., sold for $18.5 million after receiving seven takeover bids during a bankruptcy auction, according to the Courier-Tribune

Randolph Health CEO Angie Orth said the hospital, which filed for Chapter 11 bankruptcy in March, sold to Roanoke, Va.-based American Healthcare Systems, according to the report. 

Objections to the deal will be accepted by the bankruptcy court until Oct. 16. If there are no objections, the judge is expected to issue an order Oct. 22 to allow the transaction to proceed. 

More articles on healthcare industry transactions:
Atrium, Wake Forest Baptist merge to create 42-hospital system
Orlando Health closes $86M acquisition of CHS hospital
Advocate Aurora, Beaumont cancel merger

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