Hunter
09/14/23
Attorneys for Mercy Iowa City said during a Wednesday hearing that they’re arranging tours of their facilities for potential buyers.
The Gazette reports that McDermott Will and Emery attorney Felicia Perlman, representing Mercy, told a judge that there are several interested parties who have signed nondisclosure agreements and are being provided financial data about the hospital, which filed for Chapter 11 bankruptcy on August 7th.
Perlman said following the tours, there should be a better idea who is genuinely interested in bidding against the University of Iowa’s $20 million stalking horse offer.
Judge Thad Collins indicated Mercy’s amendments to the initial sale, including dropping the requirement that the winning bidder continue to operate the property as a hospital, would be approved. He also called extending the deadline for bids in order to maximize value “a no-brainer,” adding he will remain focused on completing the sale as soon as possible.