LRGHealthcare Files for Chapter 11, Concord to Bid on Assets

On October 19, LRGHealthcare filed for Chapter 11 bankruptcy protection. LRGHealthcare is the owner and operator of Lakes Region General Hospital in Laconia, NH and Franklin General Hospital in Franklin, NH. Mired in debt, LRGHealthcare hoped to merge with another hospital before the pandemic.

It contacted 43 hospitals with which it could potentially merge over two years ago, according to the Laconia Daily Sun. Only five expressed interest.

But among them was Concord Hospital, which submitted an offer alongside the bankruptcy filing. Concord Hospital has offered $30 million for the two hospitals and their assets. The combined value of the properties listed in municipal databases is over $72 million, according to the Laconia Daily Sun.

LRGHealthcare is further affiliated with Adv...

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