Randolph Hospital secures extension of exclusive solicitation period

By Sarah Lizee

Olympia, Wash., April 5 – Randolph Hospital, Inc., which does business as Randolph Health, obtained an extension of its exclusive period to solicit votes on a Chapter 11 plan through June 4, according to an order filed Thursday with the U.S. Bankruptcy Court for the Middle District of North Carolina.

The company said in its motion that the debtors have been diligently working to satisfy all conditions and close their sale to American Healthcare Systems, LLC, but there are critical pre-closing requirements that remain outstanding.

Given the pendency of critical contingencies and pre-closing requirements, the debtors received a continuance of the hearing on the disclosure statement until April 1.

The debtors believe it would be in the best interests of their estates to likewise extend the soliciting exclusivity period so that they can focus their resources on satisfying the remaining items to close the sale transaction, the company said.

Randolph is an Asheboro, N.C.-based health care company. The company filed bankruptcy on March 6, 2020 under Chapter 11 case number 20-10247.

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