Concord Hospital Acquires LRGHealthcare For $30 Million

Concord Hospital acquired LRGHealthcare, a two-hospital system in Laconia, New Hampshire, for $30 million. A bankruptcy judge approved the deal on December 23, 2020. LRGHealthcare filed for bankruptcy on October 19, 2020, to discharge debt of $100 million. The sale requires final approval by the state attorney general's office.

Concord Hospital and LRGHealthcare’s two hospitals, Lakes Region General Hospital and Franklin Regional Hospital, are not-for-profit, charitable organizations. Upon closing the transaction, the assets of the two hospitals will be acquired by two newly created not-for-profit, charitable New Hampshire organizations as subsidiaries of Concord . . .