Health-care company Strategic Global Management Inc., which failed in an earlier bid to purchase a number of Verity Health System of California Inc.’s hospitals out of bankruptcy, wants to buy two of the system’s Bay Area hospitals for $60 million, WSJ Pro Bankruptcy reported. SGM, a California-based for-profit health-care company, said it has presented a written offer to Verity for the purchase of the 357-bed Seton Medical Center in Daly City, Calif., south of San Francisco, according to papers filed Wednesday in U.S. Bankruptcy Court in Los Angeles. The $60 million bid also includes the 116-bed Seton Coastside, in Moss Beach, Calif. SGM had previously bid $610 million for the two hospitals along with the Los Angeles-area St. Francis Medical Center and St. Vincent Medical Center. Verity terminated the purchase late last year after saying SGM was unable to close the deal. SGM said in court papers that it “can verify that, for purposes of the acquisition of Seton, it has the ability to obtain the cash necessary to close the sale” within 45 days either through a private sale or through an auction process. In either case, SGM said it will be a competitive bidder.
