Bloomberg Law
Free Newsletter Sign Up
Bloomberg Law
Welcome
Go
Free Newsletter Sign Up

New Hampshire Hospital Group Goes Bankrupt After Covid Stress

Oct. 19, 2020, 5:20 PM

LRGHealthcare filed for Chapter 11 on Monday, the latest hospital chain to succumb to disruptions from the novel coronavirus.

The company is luckier than other medical groups that have been forced to shutter. It has a so-called stalking horse offer from Concord Hospital Inc. for Lakes Region General Hospital, Franklin Regional Hospital and the hospitals’ ambulatory sites, according to a statement on its website and court papers. The group plans to conduct a sale process and auction for the assets.

The pandemic has pushed a cohort of struggling U.S. hospitals into deeper financial distress as they cope with the cost ...