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Hospital Business and Related Assets in Kansas

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Hospital Business and Related Assets in Kansas



Price: $6,900,000.00


Other Item Info
Item #: ksbke_254343
Created: 09/30/2019
Category: Business Property > All Assets or Going Concerns > Health Care Equipment & Services
Sale Location: Wichita, Kansas
Sale Date: Tue. Nov 12, 2019
Seller Info
Patricia E Hamilton
Trustee's Attorney
917 SW Topeka Blvd
Topeka, KS 66612
785-408-8000
Bankruptcy Info
Case #: 6:19-bk-10359
Case Title: CAH Acquisition Company #5, LLC
Court: Kansas Bankruptcy Court
Chapter: 11
View Case Docket

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Description

Sale of substantially all of assets of the CAH Acquisition Company # 5, LLC, the seller owned and operated the Hillsboro Community Hospital, a critical access hospital located in Hillsboro, Kansas. Hillsboro Hospital provides high-quality medical care to the community of Hillsboro, Kansas. Hillsboro Hospital is 15-bed hospital providing high-quality care distinguished by patient satisfaction and results. Hillsboro Hospital offers a broad range of services, including but not limited to the following: emergency, surgery, radiology, laboratory, inpatient care, rehabilitation and swing bed. Hillsboro Hospital also offers EEGs and EKGs, treadmill, nerve conduction and sleep apnea studies. The sale assets described as below:

  • Fee simple title to all parcels of the land, together with all buildings and improvements thereon, and other interests in real estate identified in Disclosure Schedule 3.1 (collectively, the “Owned Real Property”);
  • Rights and obligations of Seller, as Sublessee, under the Sublease Agreement which shall be assigned to Buyer at the Closing as modified pursuant to Section 4 of this Agreement, and all other leasehold interests granted to Seller under those real property leases identified in Disclosure Schedule 3.2 (collectively, the “Leased Real Property”);
  • All rights and obligations of Seller arising under only those executory contracts and leases of personal property identified in Disclosure Schedule 3.3, which shall be assumed and assigned to Buyer pursuant to Section 365 of the Bankruptcy Code (collectively, the “Assigned Contracts and Leases”); provided, however, that any time prior to the final hearing seeking entry by the Bankruptcy Court of an order approving the Sale Motion, Buyer may elect, in its sole discretion by providing notice to Seller, to reject any of the executory contracts and leases identified in Disclosure Schedule 3.3 and such contract or lease shall be excluded from the list of Assigned Leases and Contracts;
  • Rights to receive the proceeds of Accounts Receivable, including the Accounts Receivables identified in Disclosure Schedule 3.04;
  • Inventories of medical supplies, drugs, medications, food, janitorial and office supplies and other disposables and consumables used in the Hospital Business (the “Inventory”) including the Inventory identified in Disclosure Schedule 3.5;
  • Fixed and movable machinery, equipment, furniture, fixtures, furnishings, vehicles, leasehold improvements, patient beds, computer and computer-related hardware and firmware, copiers, telephone lines and numbers, facsimile machines and other telecommunication equipment, miscellaneous office furnishings and supplies, maintenance equipment, tools, signs and signage, cleaning supplies in unopened cases orbulk containers or packages, food processing and preparation and washing equipment, and other tangible personal property owned or leased by Seller and used in or relating to the Hospital Business (collectively, the “Equipment”) including the Equipment identified in Disclosure Schedule 3.6;
  • Rights and remedies (to the extent assignable or transferable by Seller) to all licenses, certificates of need, certificates of exemption, franchises, accreditations and registrations and other licenses or permits (including Environmental Permits) issued in connection with the Hospital Business identified in Disclosure Schedule 3.7 (collectively, the “Permits”);
  • Rights and remedies to intellectual property rights used at or in connection with the operation of the Hospital Business, including those under the CPSI Agreement identified in Disclosure Schedule 3.8 (collectively, the “Purchased Intellectual Property”), provided, however, Purchased Intellectual property does not include any software that is owned by any other Person;
  • Prepaid expenses and other assets that appear on a balance sheet as a result of the Hospital Business making payments for goods and services to be received in the future (the “Prepaid Expenses”), including those Prepaid Expenses identified in Disclosure Schedule 3.9;
  • Any insurance Claims or insurance proceeds for damages caused to, or the replacement cost or repair cost of, any Acquired Asset prior to Closing, including those identified in Disclosure Schedule 3.10;
  • The name Hillsboro Community Hospital together with all variations thereof, and all domain names and computer programs and software, and other intellectual property rights used in connection with Seller’s operation of the Hospital Business;
  • All business records that are in the possession or control of Seller that relate to the Hospital Business, including all engineering records, purchasing and sale records, accounting records, business plans, budgets, cost and pricing information, correspondence, records relating to patients and records relating to employees of the Hospital Business, records relating to vendors (including vendor lists, correspondence with vendors and records of purchases from vendors), mailing lists, e-mail address lists, recipient lists, construction and building records (including drawings, plans, floor plans and architectural drafting and renderings, whether related to finished construction, construction in process or undeveloped areas) and data and other records and files, wherever located (including any such records maintained in connection with any computer system) contracts, agreements, or financial data, related to the Hospital Business except the Excluded Documents (collectively, the “Records”); provided, however, that Buyer shall make the Records available to Seller after closing upon reasonable request in order to allow Seller to fulfill its duties in the Bankruptcy Case and to collect the Accounts Receivable not otherwise collected by Buyer; and
  • Any other assets and properties, whether tangible or intangible, used in connection with the Hospital Business, wherever located and whether or not carried on Seller’s books.

Sale Location

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401 N. Market, Room 150
Wichita, KS,

Additional Details

  1. Auction Time: 10:30 a.m.
  2. Sale Hearing Held on November 14, 2019, at 10:30 a.m.
  3. Bid Amount: Exceeding the Purchase Price by at least $200,000.00.
  4. Bid Increment: $200,000.00
  5. Bid Deposit: 3% of the Purchase Price
  6. Bid Deadline: November 8, 2019
  7. Last date to respond: November 8, 2019


Other Information

Terms and Conditions:

See Attached.


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