(Greensboro, N.C.) – The sale of Morehead Hospital has yet to be finalized, after a federal bankruptcy court judge recessed a hearing Wednesday and told attorneys to return to the courtroom Monday morning.

Bankruptcy Judge Benjamin Kahn gave lawyers the weekend to review financial documents about the Eden hospital’s proposed sale to a for-profit Miami partnership for more than $11 million.

The Greensboro News and Record reports that Kahn also declined to give the University of North Carolina Health Care system more time to sweeten its losing offer for the cash-strapped hospital.
Court was adjourned after three hours of testimony on an offer by the Empower iHCC partnership of Miami, Fla., which increased its bid by about $300,000.

The hearing was suspended as an Empower executive tried to explain a lender’s arrangement guaranteeing the $15 million Empower will use to buy and maintain the Eden hospital, which is now operating under bankruptcy protection.

 

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