Judge Approves Sale of Indiana Hospital
In its aim to establish a large network of efficiently run hospitals, Prime Healthcare Services has bought the Monroe Hospital of Bloomington, Indiana.
Only several months after Monroe Hospital filed for bankruptcy, the growing health care system, whose headquarters are in Ontario, California, entered the winning bid at a bankruptcy auction. Judge James Carr of the United States Bankruptcy Court approved the sale.
Monroe is a First Rate Hospital
Monroe Hospital is one of Bloomington’s top health care facilities. Their technology is up to date, and they are known to have an incredibly caring and helpful staff. The doctors and nurses are all highly educated in their respective fields. Monroe Hospital is also very liked by the Bloomington community due to their immense list of amenities on site.
With over $100 million in debt, and with assets totaling less than $50 million, Monroe Hospital realized that it had no better option than filing for Chapter 11. Many of their debts amounted to numbers in the hundreds of thousands of dollars. A Bloomington group of anesthesiologists were owed close to $700,000 alone.
Prime Healthcare Services is One of the Best and Fastest Growing Hospital Networks
Prime Healthcare Services is a growing chain of hospitals that span throughout the country, in a number of states. As they are based out of California, most of their hospitals in their network are found there. You”l also find hospitals in the Prime system in Kansas, Texas, Rhode Island and more.
Besides for trying to provide quality health care to all of its patients, Prime Healthcare is in the habit of looking out for already popular hospitals that are going through tough financial times. Prime will then buy them out, and run the institution with their signature excellence. Examples of this include the proposed takeover of six hospitals in Los Altos Hills, California, in the Daughters of Charity Health System, and the purchase of Carondelet Health Hospital in Kansas City, Missouri.
Prime Looking Forward to a Bright Future with Monroe Hospital
In the case involving Monroe Hospital, Prime Healthcare Services proved to be the highest bidder at the bankruptcy auction. Monroe Hospital will now be incorporated into Prime Healthcare’s hospital system.
Reports have mentioned that the Prime Healthcare Services plan on spending upwards of $2 million, in keeping the hospital running in the first few years.