December 11, 2018 / 12:39 AM / a month ago

Bankrupt Promise Healthcare lines up private sale of St. Louis hospital

Promise Healthcare Group is seeking bankruptcy court approval to sell its stake in a money-losing facility in St. Louis, which includes a nursing school, for $10 million as the hospital and nursing home chain tries to quickly shed assets.

Promise, in a filing on Friday in U.S. Bankruptcy Court in Delaware, said it does not believe continuing to market its interests in the St. Alexius hospital in the hope of spurring an auction will produce a better or higher bid than the one offered by Americore Holdings LLC.

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