INVERNESS, FL- The Citrus County Hospital Board is scheduled to hear presentations from four bidders on Wednesday that are looking to acquire or lease the financially-troubled 198-bed Citrus Memorial Hospital here.
The bidders are Tampa General Hospital, HCA Holdings Inc. of Nashville, Naples-based Health Management Associates Inc. and Brentwood, TN-based RegionalCare Hospital Partners. According to the Tampa Bay Business Journal, Tampa General Hospital is proposing a merger of the two institutions, while the other three bidders are looking to purchase or engage in a lease agreement to operate Citrus Memorial.
Moody's Investors Service and Fitch Ratings have recently downgraded ratings for Citrus Memorial Hospital, with Moody's citing a material decline in liquidity in March and Fitch stating in May it had concerns over the hospital's failure to meet covenanted debt service coverage for fiscal 2013. See story in the Tampa Bay Business Journal.
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