Dallas-based Steward Health Care is canceling the auction and sale hearings for three of its 31 hospitals after receiving no qualified bids.
A notice, filed July 21 in bankruptcy court and obtained by Becker's, shared that the for-profit health system had "not received bids that constitute a qualified bid" for Trumbull Regional Medical Center in Warren, Ohio, Hillside Rehabilitation Hospital in Howland, Ohio, and Sharon (Penn.) Regional Medical Center. The auction was originally scheduled for July 27, but had been postponed before the announcement.
Steward, which filed for Chapter 11 bankruptcy May 6, is working with consultants to evaluate alternative ways to deal with the hospital, but no decision has been made.
Apart from the cancellations, the health system has also declared bids for two of its other hospitals.
Hope, Ark.-based Pafford Health Systems will purchase Wadley Regional Medical Center in Hope, Ark., and AHS South will purchase Regional Medical Center in West Monroe, La., the motion said.
"We are working collaboratively with various parties, officials and stakeholders in the Court supervised process to obtain the best results we can for our patients, employees, and the communities we serve," Mark Rich, president of Steward, said in a July 21 news release. "We are pleased to have secured new operators for Glenwood and Wadley that we believe will allow the sales of these hospitals to move forward so they can continue to provide high-quality and compassionate care."