Dallas-based Steward Health Care filed an Aug. 28 notice, obtained by Becker's, to designate Orlando (Fla.) Health as the successful bidder for its northern Florida assets.
The notice comes after Orlando Health entered into a binding asset purchase agreement with Steward on Aug. 14 to purchase Rockledge (Fla.) Regional Medical Center, Melbourne (Fla.) Regional Medical Center, Sebastian (Fla.) River Medical Center and some of Steward Medical Group's practices in Northern Florida for $439.42 million in cash.
U.S. Bankruptcy Judge Christopher Lopez filed an order approving Orlando Health as a stalking horse bid and qualified bidder Aug. 22.
The Steward assets, referred to as "space coast hospitals" in the notice, now have a sale objection deadline of Sept. 5 and a sale hearing scheduled for Sept. 10. The for-profit health system, which sought Chapter 11 protection May 6, also canceled the Aug. 26 auction for the assets as well.
"The bid deadline has passed and the debtors [Steward] have not received any other qualified bids with respect to the space coast hospitals," the notice said. "Accordingly, pursuant to the global bidding procedures, the debtors have determined to not conduct an auction with respect to such hospitals."
Becker's has reached out to Orlando Health and will update this story should more information become available.