June 14, 2012 | last updated June 14, 2012 12:07 pm

L&M hospital moves to buy Westerly Hospital

A Superior Court judge has given his approval to a Connecticut hospital's initial bid for the purchase of Westerly Hospital, The Associated Press reports.

The Providence Journal reports Superior Court Judge Brian Stern on Wednesday approved the $69 million "stalking horse" bid from Lawrence & Memorial Hospital in New London.

The bid, which includes assuming $22 million of Westerly Hospital's debt, will be used as a base for other competing bids.

Mark Russo, the special master in charge of Westerly Hospital's receivership, has said that five or six hospital systems have expressed preliminary interest in submitting a rival bid by a July 30 deadline.

Nobody objected Wednesday to the initial bid, which Stern says guarantees there will be a future for Westerly Hospital.

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