Officials said a bid to buy the organization was successful and led to a new agreement.
RANDOLPH COUNTY, N.C. — Editor’s Note: The above video is from Randolph Health’s previous agreement.
Randolph Health now has a new owner. The Board of Directors and the leadership team announced that they’ve come to an agreement with American Healthcare Systems, LLC. The company will acquire all of Randolph Health’s operating assets.
You may remember Randolph Health came to an agreement with the DAVA Foundation, Inc. The foundation was supposed to obtain the operating assets and Java Medical Group and manage the new organization.
As part of the bankruptcy process, the agreement was submitted to bankruptcy court for approval. There’s also an opportunity for other organizations to submit bids. Once there are multiple bids an auction is held.
“This new agreement replaces the previous agreement with The DAVA Foundation and will now progress through the remaining aspects of the bankruptcy process with the goal to finalize the purchase transaction no later than early in the first quarter of 2021. This plan is subject to final bankruptcy court approval and other requirements must be met to close this deal,” said Randolph Health’s chief executive officer, Angela Orth.
There’s more information on the deal on Randolph Health’s website.