MEDPARTNERS: Judge Won’t Intervene in Sale
MedPartners Inc. announced yesterday that a Los Angeles Superior Court judge has ruled against a rival bidder attempting to halt the sale of some of MedPartners' California assets to KPC Acquisition Corp. In its suit, MedManagement Acquisition Corp. asserted its "right to make the purchase, having signed a letter of intent with MedPartners earlier," and accused MedPartners of failing to meet its obligations. MedPartners "said it spent more than $1.5 million planning and negotiating its bid for the assets related to the Mullikin Medical Group and Southern California Medical Corp." (Bloomberg/Los Angeles Times, 7/13).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.