In a significant development, a federal bankruptcy court has granted final approval for OSF to acquire several key assets of St. Margaret’s Health in Peru, effectively clearing the path for the acquisition to proceed without any encumbrances.
The court order does not specify a closing date for the sale; however, it marks a crucial milestone in the acquisition process. OSF had been waiting for this bankruptcy decision to serve as the catalyst for its plans to initiate comprehensive upgrades to the newly acquired facilities.
During the earlier stages of the Chapter 11 bankruptcy proceedings, OSF had made a substantial offer of $38 million for the acquisition of the Peru hospital and its associated assets. This sum was determined to be the fair market value for the properties in question. With the federal bankruptcy court’s approval, OSF has made a significant step forward in this healthcare acquisition.