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St. Louis hospital secures $18.5M bid

A hospital operator has agreed to pay $18.5 million to acquire St. Alexius Hospital in St. Louis, one of the facilities owned by Americore Holdings when it filed for Chapter 11 bankruptcy last year, according to the St. Louis Business Journal

The bid from SA Hospital Acquisition Group is a stalking horse bid, meaning it will set the floor price in the bankruptcy auction. The auction is set for July 28, according to the report. 

The bid comes after the hospital secured temporary financial relief in June, when it received $16.5 million in COVID-19 relief aid from the federal government. The funds were made available to safety-net hospitals through the Coronavirus Aid, Relief and Economic Security Act, according to the report. 

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