Natchez (Miss.) Regional Medical Center plans to file for Chapter 9 bankruptcy
for the second time in five years. The hospital's financial liabilities exceed its assets by about $3 million, according to local reports. Natchez officials have blamed decreases in revenue
from declining federal reimbursements
for putting the hospital in the red.
As a result, the county-owned hospital, with the help of Healthcare Management Partners, has been looking since July for a suitable buyer to take over. Just last month, officials announced that a potential buyer had been identified and negotiations were underway. This isn't the first time Natchez Regional has attempted to find a buyer. The hospital put itself up for sale in 2008 but the process ended without a buyer being identified.Follow Rachel Landen on Twitter: @MHrlanden