LRGHealthcare President and CEO Kevin Donovan said that Concord (N.H.) Hospital is the sole health care institution interested in acquiring Lakes Region General Hospital, Franklin Regional Hospital and the hospitals’ ambulatory sites through chapter 11 bankruptcy proceedings, the Laconia Daily Sun reported. LRGHealthcare has filed a motion in federal bankruptcy court to cancel a bankruptcy auction set for today. Once the parties are granted a final order, they can begin the process of seeking approval from regulatory agencies, including the New Hampshire Attorney General’s office and the New Hampshire Department of Health and Human Services. LRGHealthcare filed for chapter 11 protection on Oct. 19, citing more than $100 million in debt. The move came after two years of efforts by LRGH to solve its financial problems through a merger or acquisition.
