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 pointed to decreases in revenue from declining federal reimbursements for putting the hospital in the red.
As a result, the county-owned hospital, along with the help of Healthcare Management Partners, has been looking since July for a suitable buyer. Just last month, officials announced that a potential buyer had been identified and negotiations were underway.