22 parties bid for bankrupt hospital chain’s assets

The deadline to submit a quote was June 26. Insolvency court officials are expected to examine the bids this week and determine which are practical.

Fort Lauderdale-based Americore has 3 healthcare facilities in its network, consisting of Ellwood City (Pa.) Medical Center which closed Jan 31. Its other 2 medical facilities are St. Alexius Hospital in St. Louis, Mo., and Izard County Medical Center in Calico Rock, Ark. Both are on unsteady financial footing.

One of the known bids for the bankrupt hospital chain and its properties is Third Friday Total Return Fund, a West Palm Beach, Fla.-based hedge fund. The hedge fund sent a proposition to take over ownership of all of Americores properties. The proposition includes a $25 million credit quote and $22 million in money..

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Twenty-two celebrations apparently have sent quotes to buy some or all possessions of Americore Holdings, a Florida-based three-hospital network that declared insolvency in December, according to The Ellwood City Ledger.

Many information of the quotes were not divulged, according to the report. For example, the files obtained by the Ledger didnt state if the quotes were for all three centers, portions of the centers or which specific possessions the numerous celebrations were interested in..

Alia Paavola –
Tuesday, June 30th, 2020
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The deadline to submit a bid was June 26. Personal bankruptcy court authorities are expected to review the quotes this week and figure out which are viable. One of the known bids for the bankrupt medical facility chain and its assets is Third Friday Total Return Fund, a West Palm Beach, Fla.-based hedge fund. Its other two health centers are St. Alexius Hospital in St. Louis, Mo., and Izard County Medical Center in Calico Rock, Ark.