Eastern Ozarks Regional Health System owner Robert Becht rejected an offer from the Sharp Medical Foundation to buy the hospital, according to Sharp Medical Foundation Chairman Jay Torbit.
Torbit said negotiations between Sharp Medical and Becht have stalled.
"If he (Becht) wants to talk, we'll consider what he has to say," Torbit said. "The ball is in his court."
He said the board discussed building a new hospital at the board of directors meeting last week.
"Our intention is to provide this area with adequate medical care," Torbit said. "If we can't purchase the existing hospital, building a new one is a feasible option."
He said discussions over the donation of suitable properties for a new hospital have been encouraging.
Sharp County Judge Harold Crawford said he is unaware of any current offers to buy Eastern Ozarks by other health care providers.
"Usually if someone is interested in the hospital they contact us," Crawford said. "No one has contacted us in over two weeks."
Crawford said several weeks ago Becht's son, Scott, told him that two health care providers were interested in the facility, but he hasn't spoken with Scott Becht since.
Richard Langosch, vice president of Associated Healthcare Systems Inc., said his company is interested in buying the property, but negotiations have been slow.
"There's really no reason to comment on this situation," Langosch said. "No offers have been made."