The Miami Medical Center filed for chapter 11 bankruptcy protection in March, and the 67-bed hospital is slated to be sold in auction in late June, Becker's Hospital Review reported. Leawood, Kan.-based Nueterra, along with its partners, acquired Miami Medical Center in 2014 and invested $70 million in the facility. Children's Health Ventures, the for-profit arm of Miami-based Nicklaus Children's Hospital, invested in Miami Medical Center with hopes of bringing a unique care model to South Florida. However, the Miami Medical Center struggled to stay afloat. The hospital suspended patient services Oct. 30, 2017, and subsequently laid off its 180 employees. It filed for bankruptcy protection March 9, 2018. On March 30, Miami Medical Center filed a motion to approve bidding procedures for the sale of the hospital and to approve certain protections to the stalking-horse purchaser Nicklaus Children's Hospital. The general unsecured creditors' committee and a group of physicians objected to the proposed bidding procedures and the ability of Nicklaus Children's Hospital to credit the amount of its liens on Miami Medical Center. Read more.
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