March 6, 2000

Non-Profits Find Opportunity Buying Failed Charter Hospitals

The closing of 33 hospitals by Charter Behavioral Health Systems (CBHS) (see February 14, 2000, issue of OPEN MINDS On-Line News) has created opportunities for some not-for-profit health care providers. In the latest deal, Greensboro, North Carolina-based Moses Cone Health System (MCHS) is buying a 100-bed former CHBS facility there. CHBS, which filed for bankruptcy last month, closed the Greensboro unit in early February. Crescent Real Estate Equities, which owns most of the buildings that CBHS operated facilities in, is selling . . .