Doctor Offers $31M to buy Bankrupt Hospital


Dr. B. Reddy Dandolu, a South Jersey heart surgeon said he had offered $31 million to buy Lower Bucks Hospital in Pa. thereby bringing it out of bankruptcy in order that it could continue operating as a community hospital. Dr. Dandolu, CEO of DBR Healthcare said his company has partnered with Medley Capital, a private equity firm based in New York to raise the money and make the offer. An earlier offer was made last year but it was unsuccessful.

Dr. Dandolu is one of the hospital’s creditors.

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