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Article: Chip off the old block; New American execs may buy five hospitals in bankruptcy.(Brief Article)
- Article from:
- Modern Healthcare
- Article date:
- June 26, 2000
- Author:
CopyrightCOPYRIGHT 2000 Crain Communications, Inc. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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The process of chipping off pieces of bankrupt New American Healthcare Corp. has begun, although there's a chance some current company officials will get to keep a chunk of the old block of hospitals.
A judge in the U.S. Bankruptcy Court in Nashville last week approved the sale of two of the Nashville-based company's eight hospitals for $32 million plus working capital to two separate bidders.
Early this week, two New American officials are expected to bid on five more of the company's hospitals and corporate assets, with the intent of staying in the current headquarters under the new name of Accord Healthcare.
If that bid or other potential ...