- Associated Press - Monday, February 13, 2017

PHILADELPHIA (AP) - A court motion indicates that a bankrupt north Philadelphia health organization has reached a deal to sell a shuttered hospital.

The Philadelphia Inquirer (https://bit.ly/2kpHcIw ) reports that the bankruptcy court motion indicates that North Philadelphia Health System has agreed to sell St. Joseph’s Hospital for $8.1 million to MMP Hospital Partners LLC.

The health system filed a motion Monday to be able to sell the property free of liens, which would then attach to the net proceeds. A March 22 hearing on the sale was requested. A spokeswoman didn’t immediately return a call seeking comment.

The health system still owes about $8 million on a Federal Housing Administration mortgage, net of $3 million held by the trustee on the loan.


Information from: The Philadelphia Inquirer, https://www.inquirer.com

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