Randolph Hospital secures extension of exclusive solicitation period

By Sarah Lizee

Olympia, Wash., July 2 – 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 Sept. 2 from June 4, according to a motion filed Thursday with the U.S. Bankruptcy Court for the Middle District of North Carolina.

The company said in its motion that, given it has only recently resolved the two critical conditions to the proposed sale to American Healthcare Systems, LLC, the debtors received a continuance of the hearing on the disclosure statement until July 1. An order regarding approval of the disclosure statement had not been filed as of Friday afternoon.

The debtor said it believes it would be in the best interests of its estates to likewise extend the soliciting exclusivity period so that the debtors can revise their solicitation materials to address the amended sale transaction.

Otherwise, the debtors would likely be forced to make costly amendments or supplements to the current solicitation materials, which are outdated, the company said.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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