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Article: $5.75 Million High Bid for Greater Southeast; Auction Process Is Not Over for District Hospital and 3 Related Facilities
- Article from:
- The Washington Post
- Article date:
- December 12, 2003
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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A podiatrist who heads a Capitol Hill long-term care and nursing
facility yesterday submitted the high bid of $5.75 million in a
bankruptcy auction for the District's financially troubled Greater
Southeast Community Hospital.
The bidding isn't over, though, for Greater Southeast and three
other Doctors Community hospitals that are being auctioned.
Peter Shin's bid is far below the $22.3 million paid for Greater
Southeast in a bankruptcy sale in November 1999. The buyer then was
an Arizona firm, Doctors Community Healthcare Corp., which filed for
bankruptcy three years later, leading to this week's auction.
Shin, 53, said his offer does not include assumption of any
hospital liabilities.
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