ST. LOUIS — The owners of a south St. Louis hospital confirmed they are in the process of selling it, though no public announcement has been made.
SA Hospital Acquisition Group LLC, which owns South City Hospital, "entered into an asset purchase agreement with American Healthcare Systems a few months ago," an attorney for SA Hospital, Mayer Klein, said in an email Friday.
He said American Healthcare, which is based in Glendale, California, is currently operating South City Hospital "under an Interim Management Agreement while and until (American Healthcare) satisfies the conditions of the asset purchase agreement."
"The current acquisition status is 'in progress'..." Klein wrote.
Terms of the potential sale weren't disclosed. American Healthcare, run by Chairman and CEO Michael Sarian, didn't respond to a request for comment. The company's website also lists five locations in Asheboro, North Carolina. South City Hospital CEO Tina Hecht also didn't respond to a request for comment.
SA Hospital Acquisition LLC, whose managing members are Lawrence Feigen and Jeff Ahlholm, in 2021 purchased South City Hospital out of bankruptcy for about $17 million. South City Hospital had received significant Covid-19 relief funds from the federal government while in bankruptcy.
After purchasing the 190-bed hospital, SA Hospital Acquisition changed the facility's name to South City Hospital and promised multimillion-dollar upgrades designed to make the for-profit facility more competitive. It also made deals with Barnes-Jewish Hospital and a cardiology group, designed to expand care.
The cardiology group, St. Louis Heart and Vascular, "could not come to satisfactory contractual terms" with South City Hospital, Dr. Harvey Serota, of St. Louis Heart and Vascular, said Friday. He didn't immediately respond to a question about whether that meant St. Louis Heart and Vascular isn't providing services at South City Hospital.
A spokesperson for BJC HealthCare, which operates Barnes-Jewish Hospital, said Washington University stroke specialists at Barnes are still providing virtual care to South City Hospital patients.
Read more of the story on the St. Louis Business Journal website.
To watch 5 On Your Side broadcasts or reports 24/7, 5 On Your Side is always streaming on 5+. Download for free on Roku or Amazon Fire TV.
