A Southern California hospital with one of the busiest trauma centers in Los Angeles will hit the bankruptcy auction block again after a proposed buyer failed to close on its previous sale, WSJ Pro Bankruptcy reported. Verity Health System of California Inc.’s 384-bed St. Francis Medical Center in Lynwood, Calif., is again up for sale after Verity terminated an earlier deal to sell the hospital to the proposed purchaser, a California-based for-profit health-care company. Bankruptcy Judge Ernest Robles in Los Angeles approved the auction procedures for St. Francis following a hearing on Wednesday. Verity Health is putting St. Francis up for sale without a stalking horse, or lead bidder, to set a floor price for the hospital. Bids are due April 3 and an auction, if necessary, will be held on April 7. Judge Robles scheduled a hearing for April 9 to consider approval of a sale. Read more.
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