Bankrupt North Philadelphia Health System to sell shuttered hospital


http://www.beckershospitalreview.com/hospital-transactions-and-valuation/bankrupt-north-philadelphia-health-system-to-sell-shuttered-hospital.html

Image result for north philadelphia health system

North Philadelphia Health System, which filed for Chapter 11 bankruptcy Dec. 30, has inked a deal to sell St. Joseph’s Hospital in Philadelphia, which closed in March 2016, according to a motion filed in bankruptcy court Monday.

According to the sales contract attached to the motion, NPHS has agreed to sell the hospital to MMP Hospital Partners in Philadelphia for $8.12 million. NPHS filed the motion Monday to sell the hospital free and clear of liens.

The closing of the sale is conditioned on NPHS receiving approval from the bankruptcy court, and the system said the sale is slated to take place within two weeks of the entry of a court order approving the motion. A hearing on the motion is scheduled for March 22 at 11:00 a.m.

NPHS currently operates two facilities in Philadelphia: Girard Medical Center, a 168-bed psychiatric hospital, and Goldman Clinic, a substance abuse treatment center.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s