Dive Brief:

Nor Healthcare Systems Corp. appears poised to buy Prospect Medical Holding’s California hospital portfolio out of bankruptcy , according to documents filed to a Texas bankruptcy court last week. The company was named the stalking horse bidder for the California assets, meaning Nor will set a floor price for the hospitals should an auction occur.

Nor Healthcare was registered in Nevada just three months ago. The company lists no board of directors, general partners or trustees in its initial business application. However, it does name a director: Prospect veteran Michael Sarian. Sarian served as SVP of Prospect’s hospital operations between 2005 and 2012.

It could be a competitive auction. California is Prospect’s core market , and attorneys told the court this month t

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