Grupo HIMA seeks sale of Bayamón hospital facilities
By The Star Staff
Grupo HIMA asked the U.S. bankruptcy court on Tuesday to give the green light to the proposed sale of its Bayamón health facilities to AM Acquisition, whose sponsor is the Sociedad Española de Auxilio Mutuo y Beneficencia de Puerto Rico (Auxilio Mutuo Hospital), for about $18 million.
The sellers of the facilities include the Turabo Medical Center (CMT by its Spanish initials).
The assets to be sold include real property, personal property, equipment, offices and facilities that are owned, leased or used primarily in connection with the businesses by CMT and that are owned, leased or used primarily in connection with the businesses by HIMA San Pablo Hospital (referred to as HSPP in the documents) in Bayamón.
“The transfer and assignment of the Bayamon Assets to AM Acquisition shall be free and clear of all liens, privileges, pledges, security interests, rights of first refusal, options, defects in title, and any other Encumbrances and obligations arising prior to the closing,” the documents note.
If the Bayamón Stalking Horse APA is terminated under certain circumstances, the sellers will pay about $900,000 in cash to AM Acquisition, according to the documents. The sellers will also reimburse AM Acquisition for any reasonably documented costs and expenses incurred related to its due diligence, and pursuing, negotiating, and documenting the transactions contemplated in the Bayamón Stalking Horse APA.
It is Grupo HIMA’s second request for the sale of facilities. Grupo HIMA recently announced the sale of its Fajardo facilities to Fajardo Integrated Medical Center. A hearing to ratify the sale is slated for later this month.
The Puerto Rico government and the U.S. government, the latter on behalf of the Department of Health and Human Services and the Centers for Medicare & Medicaid Services, oppose the sale of the Grupo HIMA hospital assets. The entities are opposed to the sale of assets free of any liens.
HIMA filed for bankruptcy in August to restructure more than $400 million in debt.