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.
More articles on healthcare industry transactions:
Banner Health inks $200M deal to acquire Wyoming hospital
CHS’ sale of 480-bed Florida hospital moves forward
St. Luke’s acquires 12th Pennsylvania hospital
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
