As a county-owned hospital, the declaration of bankruptcy requires legislative approval, which the hospital sought last month when it announced that its financial liabilities exceeded its assets by about $3 million because of declining federal reimbursements.
Natchez Regional previously filed for bankruptcy in February 2009 and emerged from those proceedings 10 months later. Although the hospital attempted to sell itself at the time, no buyer was identified. This time, with the help of Healthcare Management Partners, hospital officials have said that negotiations are underway to sell the facility once a reorganization is approved. However, no specific details relating to a potential transaction have been released.
Follow Rachel Landen on Twitter: @MHrlanden