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Offer Made for Purchase of Natchez Regional Medical Center

The Natchez (Miss.) Regional Medical Center board has received an offer for the purchase of the hospital, according to a Natchez Democrat report.

The details of the offer were not disclosed, although Natchez Regional Board Chairman Rev. Leroy White told the Democrat it involved multiple bidders. The board will meet this week to discuss the offer with Healthcare Management Partners, which Adams County hired in July to represent the hospital during the sale process, according to the report.

This past September, three healthcare organizations (whose identities were not disclosed) agreed to take part in a "stalking horse" bidding process concerning the sale of Natchez Regional. The process will involve HMP negotiating a price with one of the interested parties. That price will become the base bid for Natchez Regional's sale, and the stalking horse will automatically acquire the hospital if no one makes an offer greater than the base bid.

Once the stalking horse is identified, the Adams County board of supervisors must ratify the agreement. Then the county will have 30 days to advertise the hospital's sale. The stalking horse's identity will be revealed once the board ratifies its agreement with the hospital's representatives.

In May, the Adams County board of supervisors announced they hoped to persuade the hospital's board of trustees to sell it after three potential buyers expressed interest. Adams County, which owns the hospital, failed in its last attempt to sell Natchez in 2008, with the hospital declaring bankruptcy the next year.

More Articles on Natchez Regional Medical Center:
Natchez Regional Medical Center Names Donny Rentfro Interim CEO  
Natchez Regional Medical Center Back on the Market
Natchez Regional Medical Center Has 3 Potential Bidders 

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