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Bondholder Preston Hollow beats UI Hospitals and Clinics in auction for Mercy IC assets

This is a developing story. Check back for updates.  Bondholder Preston Hollow Community Capital topped the University of Iowa’s $20 million bid to acquire Mercy Iowa City and its assets in a prolonged auction. The decision was announced late Tuesday evening after several days of talks between Mercy Iowa City, Preston Hollow, and a committee...
Cedar Rapids United States Mercy One Johnson County University Of Iowa North Liberty

Mercy IC auction remains unresolved after late-night continuance

The auction for Mercy Iowa City’s assets remains unresolved. After a late-night continuance of the auction on Wednesday to further negotiations, and no further action Thursday, Mercy still hangs in the balance. According to court filings, the auction was postponed to a later date, with no specifics provided, but the document stipulated that the final...
Cedar Rapids United States University Of Iowa Preston Hollow Community Capital Computershare Corporate University Of Iowa Hospital

Mercy Iowa City assets to go to auction after competing bid made

The University of Iowa Hospitals and Clinics’ acquisition of Mercy Iowa City remains uncertain after a competing bid was made on Monday. The UI made the initial bid of $20 million to acquire the hospital’s assets, known as a “stalking horse bid.” The UI’s bid set the floor price for all subsequent bids and gained...
Iowa City United States University Of Iowa Health Care University Of Iowa Barbara Wilson Mercy Health Systems

Regents approve UI's $20 million bid to acquire Mercy Iowa City

This is a developing story. Check back for updates.  University of Iowa Health Care’s acquisition of Mercy Iowa City will quickly move to bankruptcy court following a unanimous vote by the state Board of Regents Tuesday to approve the university’s $20 million bid. UIHC and Mercy will file an agreement with the U.S. Bankruptcy Court...
United States Iowa City University Of Iowa Health Care Cedar Rapids North Liberty University Of Iowa

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