NATCHEZ, Miss. (AP) — The Adams County Board of Supervisors has adopted a bidding process for the eventual sale of Natchez Regional Medical Center.
The Natchez Democrat reports (http://bit.ly/1kzrsQO ) the county-owned hospital is in negotiations with Community Health Systems for its purchase. When NRMC and CHS come to consensus on the plan, CHS will be considered a stalking horse bidder, which means the price CHS negotiated will be the bottom bid when the hospital is placed on the market for auction.
If no one outbids the stalking horse, the sale will automatically — and bindingly — go to CHS.
In the bidding process approved Monday, a qualified bidder would have to outbid CHS by at least $1 million, and every subsequent bid would have to outbid the previous bid by $100,000, Board Attorney Scott Slover said.
The $1 million initial overbid requirement is to cover the cost of the stalking horse, Slover said.
Information from: The Natchez Democrat, http://www.natchezdemocrat.com/