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Hospital Bankruptcy News

The Latest Healthcare Industry News Relating to Bankruptcies

Nye Regional Medical Center Closes

Tonopah, NV Without Emergency Services After years of financial struggles, Nye Regional Medical Center of Tonopah, Nevada closed on Friday, August 21, 2015. The closest healthcare facility is over an hour’s drive from the hospital, and this fact is leaving local residents in Tonopah very worried. Board members from the 10 bed medical center have been in contact with state and national government officials, including Democratic Senator Harry Reid. Tonopah is approximately halfway …Read More

Clarinda Mental Health Institute Closes

Relatives Upset About Moving Patients  Amid disagreements between the governor’s office and relatives of patients, Clarinda Mental Health Institute, a state run psychiatric hospital in Clarinda, Iowa closed on June 30, 2015. All 53 employees of the hospital are expected to lose their jobs as a result of the closure. With the Clarinda hospital shutting its doors, the trend of hospital closures in 2015 continues. In January, Iowa Governor Terry …Read More

St. Michael’s Medical Center Files for Bankruptcy

NJ Reviewing Sale of the Hospital Following years of financial struggle, St. Michael’s Medical Center of Newark, New Jersey filed for Chapter 11 bankruptcy protection on August 10, 2015. Officials at the hospital cited an unnecessary delay in reaching a decision on whether to approve the sale of St. Michael’s to Prime Healthcare Services, a hospital network based out of California. The State of New Jersey was handed the task …Read More

Cochise Regional Hospital Closes

Medicare Funding Cut Forces Closure Following the loss of Medicare funding several weeks earlier, Cochise Regional Hospital of Douglas, Arizona closed on July 31, 2015. As a result of the hospital’s closure, all of the employees lost their jobs. The city of Douglas, located 120 miles southeast of Tuscon has, a population of roughly 18,000 residents. Douglas is situated on the border between Mexico and The United States. This is not the …Read More

Southern Regional Medical Center Files for Bankruptcy

Bankruptcy May Lead to Purchase by Prime Healthcare After years of revenue loss, Southern Regional Medical Center of Riverdale, Georgia filed for Chapter 11 bankruptcy protection on July 30, 2015.  Southern Regional Medical Center is the only comprehensive healthcare facility in Clayton County.  Riverdale is located 12 miles south of Atlanta. This decision from the hospital comes only a week after Prime Healthcare Foundation, a California based healthcare system, proposed to the …Read More

Doctors Hospital of Michigan Files for Bankruptcy

Hospital Losing Millions Annually With estimated debts totaling $50 million, Doctors Hospital of Michigan filed for Chapter 11 bankruptcy protection on July 24, 2015. The hospital is located in Pontiac, Michigan, 20 miles southeast of Detroit. In spite of the bankruptcy filing, Doctors Hospital will continue to operate throughout the bankruptcy process. Doctors Hospital of Michigan is owned by a group of 42 doctors, some of which are still active …Read More

Hospitals That Closed in 2015

Hospitals Struggle to Stay Open In today’s day and age, hospitals throughout the country are finding it more difficult than ever to generate revenue, and avoid taking steps like closing down their operations. 2015 has already seen several hospitals of different sizes and types close their doors to their clientele. Hospitals can close for one or several different reasons. Financial struggle is usually the primary cause in a hospital’s closure. …Read More

Kindred Hospital Closes

Host Hospital Ends Natick Hospital’s Lease After a decision made by its host hospital to terminate its lease, Kindred Hospital of Natick, Massuchusetts shut its doors on June 26, 2015. Kindred Hospital operated an acute care hospital in Natick, and had been employing over 60 people.  The hospital had 23 beds for its patients.  Natick is located 15 miles west of Boston, and has a population of slightly over 30,000 …Read More

Parkview Adventist Medical Center Files for Bankruptcy

Shrinking Revenue Caused by Fall in Patient Numbers After years of decreased patient volume, Parkview Adventist Medical Center of Brunswick, Maine filed for Chapter 11 bankruptcy protection on June 16, 2015.  Parkview Adventist Medical Center plans on merging with their longtime competition, Mid Coast Health Services, another Brunswick hospital. By filing for Chapter 11 bankruptcy protection, Parkview Adventist Medical Center will be able to restructure their debt and find new a new …Read More

Victory Medical Center Landmark Files for Bankruptcy

Hospital’s Parent Company Seeks to Sell Facilities With debts amounting in the millions of dollars, and eight companies starting lawsuits against their parent company, Victory Medical Center Landmark, a hospital located in San Antonio, Texas filed for Chapter 11 bankruptcy protection on June 15, 2015. The hospital’s current plan is to sell their facilities so as to pay back their debts. Hospital is Part of Large System of Health Care Facilities …Read More