CHS awarded Natchez Regional Medical Center bid
Published 2:19 pm Thursday, September 11, 2014
NATCHEZ — In an event that was largely a legal formality, the bid for the purchase of Natchez Regional Medical Center officially went to Community Health Systems Thursday morning.
After Board of Supervisors President Darryl Grennell opened the auction to sell the hospital, NRMC’s attorney Walter Brown read a brief synopsis of the events leading up to the auction before saying that since no other bidder had stepped forward the auction was awarded to CHS.
CHS had previously entered an agreement to serve as a stalking horse bidder in the process, essentially setting the base bid for the sale at $18 million.
CHS’s bid package of $18 million includes $10 million in cash and $8 million in pre-paid taxes.
The sale is still subject to the approval of the federal bankruptcy court overseeing NRMC’s bankruptcy case.
The confirmation hearing for that is set for Sept. 29 in Natchez.