Toledo, Ohio-based ProMedica's plan to sell Coldwater (Mich.) Regional Hospital has ended due to the COVID-19 pandemic, according to The Daily Reporter.
ProMedica acquired the hospital in 2018 and announced in January that it was looking for possible buyers for the facility. Though organizations had shown interest in purchasing the facility before the COVID-19 pandemic, those potential buyers are no longer able to move forward with the deal.
"COVID-19 has caused financial difficulties for organizations and businesses," ProMedica said in a news release, according to The Daily Reporter. "Healthcare systems are not untouched by this. Interested parties have also felt the burden and are unable to continue the process of a possible purchase at this time."
The health system has made significant investments in Coldwater Regional Hospital in recent years, and it "will continue to focus on providing for the health and well-being of the Coldwater community," ProMedica said.