NH Business Review
But pitfalls, objections loom in bid for bankrupt healthcare company
December 14, 2020
Concord Hospital won’t have any competition in its effort to acquire bankrupt LGRHealthcare, but it will have to overcome some 25 objections to the sale filed last week by various creditors
The deadline to submit bids ended at 4 p.m. Monday without another bidder, meaning that Concord Hospital’s $30 million offer will be the only one on the table when the Bankruptcy Court hears a variety of those challenges in hearings scheduled for Friday and next Tuesday, Dec. 21.
The single bid for LRGH came even though more than 50 organizations expressed interest in LRGH, and a dozen signed nondisclosure agreements and entered “active discussions, according to LRGH.
Concord Hospital sole party interested in acquiring LRGH through bankruptcy
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