Randolph Health, a single-hospital system based in Asheboro, N.C., sold for $18.5 million after receiving seven takeover bids during a bankruptcy auction, according to the Courier-Tribune.
Randolph Health CEO Angie Orth said the hospital, which filed for Chapter 11 bankruptcy in March, sold to Roanoke, Va.-based American Healthcare Systems, according to the report.
Objections to the deal will be accepted by the bankruptcy court until Oct. 16. If there are no objections, the judge is expected to issue an order Oct. 22 to allow the transaction to proceed.
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Atrium, Wake Forest Baptist merge to create 42-hospital system
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