NATCHEZ, Miss. (AP) — Natchez Regional Medical Center officials are in negotiations to sale the hospital to Community Health Systems.
Community Health Systems, which is based in Franklin, Tenn., operates more than 200 hospitals in 29 states. Its hospitals are located in non-urban and mid-size markets. It operates 12 hospitals in Mississippi.
Adams County owns the hospital and the board of supervisors has ultimately approval over any sale.
The Natchez Democrat reports (http://bit.ly/1rwT0Wc ) the Natchez hospital confirmed Friday in a news release that Community Health is the potential buyer.
The board of supervisors has signed a letter of intent with Community Health. A letter of intent is a nonbinding agreement between parties acknowledging negotiations. The next step in the sale process will be for the two parties to agree to an asset purchase agreement, which is binding.
Healthcare Management Partners Chief Executive Officer Scott Phillips, who is the lead negotiator for the Natchez hospital, said the asset purchase agreement negotiations could be finalized in two to three days.
Information from: The Natchez Democrat, http://www.natchezdemocrat.com/