Bankruptcy Auction – Operating Acute Care Hospital Pineville, KY

Property Location MAP

850 Riverview Road
Pineville, KY 40977

Property #: TAA1916

Preview Times

By Appointments only

Contact Agent

Timothy Mast, CAI, AARE
Tranzon Asset Advisors

888-791-7307 ext 84 tmast@tranzon.com

 

Court-Ordered Auction-Acute Care Hospital, Rural Health Clinic, Licensure & Ancillary Properties
  • Tailor Only the Assets You Want - Properties are Offered in Nine Separate Allotments Individually or in Combination, which will include an offering of the entire Array of Assets!
  • Never Previously Available at Court Ordered Auction – Incredible Investment and Healthcare Opportunities 
 
Tranzon Asset Advisors has been appointed by the U.S. Bankruptcy Court to manage and conduct an auction of the Pineville Community Hospital, Rural Health Clinic and ancillary properties and fixtures/equipment.  The Hospital is an operating and licensed 120 bed acute care hospital, 108 acute care and 12 Geriatric-Psych with an approved Kentucky swing bed contract and 30 skilled nursing beds.  In addition to the hospital, bidders will have the opportunity to bid on the Rural Health Clinic and all personal property as well as all transferable licenses and Certificates of Need either as an individual bid or in combination with other offerings in this sale. This is an incomparable and fantastic one-time opportunity for hospital development companies, healthcare entities, medical groups and investors…never before has an asset of this magnitude with such incredible financial upside been offered via court sanctioned auction!
 
This auction process that has been sanctioned by the Bankruptcy Court will be conducted by all bidders submitting Sealed Bids (by July 30, 2019) with the possibility of a second round of bidding through private negotiations or an online auction.  Bids deemed acceptable by the Trustee are subject to Court approval.  All property will be sold free and clear of any liens and encumbrances, the buyer(s) will not be responsible for any back taxes or other previous indebtedness.   Bid forms are available in the Property Information Package or may be obtained from Tranzon upon request.  Bidder(s) may bid on one or more Lots to specifically tailor the grouping of assets that they desire. Minimum initial deposits are required with the initial bids, these initial deposits are fully refundable to bidders who do not qualify for the second round or are not the winning bidder in the second round.  Title insurance will be provided at closing and a new survey has been conducted on the hospital and surrounding properties.  
 
An example of a common grouping or combination bid would be where a buyer desires to purchase the physical hospital facility, along with the necessary licenses and certificates of need and the fixtures and equipment (personal property) related to the hospital.  In this illustration the bidder would need to enter a bid on Lots 2, 6 & 7 in their sealed bid.  Should you have any questions please do not hesitate to contact us at your convenience.  
 
Additionally, we highly recommend that each bidder download the Property Information Package (PIP) in the “Documents” section just above this description, it contains valuable information for buyers looking to bid on the entire offering, a portion of the assets or just one residential home.  Once a party has downloaded the PIP they will be automatically notified as new documents are posted.  This sale process has numerous critical documents to consider and the most efficient manner to obtain them in a timely manner is to download the PIP as soon as convenient.  
 
The Property Offered is Described as: 
 
  • 3-Story 143,539 ± SF Licensed and Operating total 120 Bed Acute Care Hospital – broken down as: 108 acute care and 12 geriatric-psychiatric beds
  • Hospital includes 30 skilled nursing-long term beds
  • Hospital includes Emergency Room, Intensive Care Unit, Radiology, Operating Room, Physical and Occupational Therapy Suites, Pharmacy and more
  • Separate and Free Standing Medical Office Building with Parking
  • All necessary Certificates of Need and Licensure in place.  Certificates of Need and Licensure may be separately available
  • All medical equipment, Furniture, Fixtures & Equipment, and Personal Property as currently located at the hospital or Medical Office Building
  • All computer systems currently in place 
  • All Business and Patient Records
  • Single Family Residence – 111 Valley Road – Pineville, Kentucky – offered separately or in combination
  • Single Family Residence – 115 Valley Road – Pineville, Kentucky (Currently Rented) – offered separately or in combination
  • Prime U.S. 25E Frontage Commercial Building Site – offered separately or in combination
This is not a description of the individual lots, a description and bid information/deposit requirements is located in the PIP.
 
 
NOTE: All Parties MUST Submit a Sealed Bid, on the Approved Bid Form, to the Trustee’s Agent on or before July 30, 2019 at 5:00pm EDT in order to be considered for any subsequent rounds of bidding, if any.  No interested bidders will be permitted to only bid in the second round.  
 
Court of Record: United States Bankruptcy Court for the Eastern District of Kentucky-London Division-Case No. 18-61486 – J. Claire Edwards, Chapter 7 Panel Trustee, represented by Mr. Jon Gay, Walther, Gay and Mack PLC, Lexington, KY
Court Appointed Auction Firm: Tranzon Asset Advisors, Edward D. Durnil, KY Auctioneer/Broker #P1734
Terms and Conditions of Purchase apply, offering subject to change, alteration, sale of part or the entire property or withdraw without notice.  

Tranzon Asset Advisors, Edward D. Durnil, KY Auctioneer/Broker #P1734

The following summary of Terms & Conditions of Auction Sale is only intended to provide you a brief outline. For a complete copy, either download the Property Information Package, if available, or contact Timothy Mast, CAI, AARE

Timothy Mast, CAI, AARE: Tranzon Asset Advisors

888-791-7307 ext 84 tmast@tranzon.com

All bidders must agree to all of the Terms & Conditions of Auction Sale prior to bidding at any Tranzon auction. Listings may be withdrawn or modified without notice at anytime.

For general information on the auction process, please review the Frequently Asked Questions.

  • Buyers Premium: Please download the Sealed Bid Form & Court Approved Bid Procedures for terms of the sale.
  • Closing: Please download the Sealed Bid Form & Court Approved Bid Procedures for terms of the sale.
  • Deposit Amount: Please download the Sealed Bid Form & Court Approved Bid Procedures for terms of the sale.
  • Broker Co-op:
  • Agency Disclosure: The member company acting as auctioneer/agent is an agent for the seller only.
  • Disclaimer: Information contained herein is believed to be correct to the best of auctioneer/agent's knowledge but is subject to inspection and verification by all parties relying on it. Sellers, their representatives and auctioneer/agent shall not be liable for inaccuracies, errors, or omissions. All square footage and other dimensions are approximate. This offering is subject to prior sale and may be withdrawn, modified or cancelled at any time without notice.

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