For-profit American Healthcare Systems, based in Glendale, Calif., intends to acquire the ProMedica Coldwater (Mich.) Regional Hospital, according to a May 24 news release.
American Healthcare Systems, which specializes in managing community hospitals, plans to ensure the sustainability of the hospital, which may include expansion of hospital services, according to the release.
The sale of one of Toledo, Ohio-based ProMedica's 11 hospitals comes as the strains of pandemic-related challenges led to the Coldwater hospital reassessing its options, Alan Sattler, president of the hospital said in a statement.
"The pandemic and its fallout, including staffing shortages and rapidly rising expenses, have further strained finances at hospitals across the country," he said.
The sale, which Becker's reported on May 10, saying the buyer was not known, is expected to take up to six months to pass regulatory approvals.
American Healthcare Systems also said May 8 it is under contract to acquire Vista Medical Center in Waukegan, Ill., a 228-bed facility according to a Shaw Local News Network report.