LifePoint Hospitals, Brentwood, Tenn., won 132-bed Logan (W.Va.) General Hospital in a bankruptcy auction, bidding $87.5 million compared with an $85.6 million offer from for-profit rival Health Management Associates, Naples, Fla. Logan's board initially chose a $72.1 million bid from HMA earlier this year after hearing presentations from Community Health Systems, HMA and LifePoint; the bankruptcy auction was triggered when LifePoint filed a bid of more than $76 million. LifePoint will have 25 hospitals after the acquisition, which it expects to close by month's end. Logan General entered bankruptcy in October 1998, its finances ruined by the improper diversion of funds by former Administrator C. David Morrison. Morrison, 56, was sentenced to eight years and one month in prison in connection with the crime and began serving his sentence this summer. -- by Vince Galloro
LifePoint submits winning bid for W.Va. hospital
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