Roanoke, Va.-based American Healthcare System has finalized its purchase of Randolph Health, a bankrupt, single-hospital system based in Asheboro, N.C., according to Triad Business Journal.
American Healthcare System finalized the deal July 1. It purchased Randolph Health for $10.2 million.
North Carolina Attorney General Josh Stein gave verbal approval of the deal at a bankruptcy hearing June 4.
Randolph Health filed for Chapter 11 bankruptcy in March 2020 to restructure its debt, which officials said was necessary to ensure the health system could continue providing care for many years.