Hershey, Pa.-based Penn State Health recent operating losses continued to cascade, reporting a $125.6 million such loss in the period ending March 31 on revenue of $2.8 billion.

Marshfield (Wis.) Clinic Health System failed to meet its debt service obligations for the fiscal year ending Dec. 31 and was required to hire a consultant to recommend improvements as a result.

Phoenix-based Banner Health named Staci Dickerson CFO and executive vice president. 

Nederland, Texas-based post-acute facility Mid Jefferson Extended Care Hospital closed and the 48 full-time clinical and non-clinical staff have been laid off, Fox affiliate KFDM reported May 26. 

Livonia, Mich.-based Trinity Health, one of the largest nonprofit health systems in the country, reported an operating loss of $283.5 million for the first nine months of its fiscal year up to March 31.

From reimbursement challenges to declining patient volumes and spiraling labor costs, many factors lead hospitals to shut down or enter bankruptcy. 

Private equity firm TA associates signed a definitive agreement to make a significant growth investment in revenue cycle management company Alpha II. 

Insufficient diagnosis numbers and unnecessary tests and care result in a "massive cost hiding in plain sight" for women with menopause symptoms, a new report says.

Walgreens Boots Alliance is laying off about 10 percent of its corporate workforce, or 504 employees, the Chicago Sun-Times reported May 25. 

Mississippi lawmakers set up a more than $100 million grant program to support the state's struggling hospitals, but healthcare officials said the program is not helping as intended, NBC affiliate WLBT reported May 25. 

New York City-based Montefiore Health System, which is expected to struggle with sustained operating challenges well into next year, reported a $31.8 million operating gain in the first quarter.

Affiliates of Los Angeles-based Prospect Medical Holdings secured $375 million in new financings from third-party lenders, according to a May 24 news release from Medical Properties Trust. 

San Benito Health Care District, the board overseeing Hollister, Calif.-based Hazel Hawkins Memorial Hospital, voted May 22 to file for Chapter 9 bankruptcy, a move coming a little more than six months after the board declared a fiscal emergency. It's a decision officials said will keep the hospital open as it continues to search for a partner or buyer. 

There are 293 rural hospitals at immediate risk of closure due to inflation, staffing shortages and other financial stress, according to the Center for Healthcare Quality & Payment Reform.

Pittsburgh-based UPMC's operating income hit $100.4 million in the first quarter — up from $50.4 million in the prior year period — due to increased patient volumes, the growth of its insurance division and equity earnings in its investment in CarepathRx.

Louisville, Ky.-based UofL Health saw its outlook revised to negative after nine-month financials ending March 31 revealed operating income slumping to $821,000, S&P Global said May 24. The rating agency affirmed its "A-" long-term rating on a series of bonds.

Chicago-based CommonSpirit posted an operating loss of $658 million for the three months ended March 31 — down from $591 million for the same period in 2022 — as rising costs and labor challenges persist. 

Mountain View, Calif.-based El Camino Health has reported an operating gain of $141.4 million for the nine months ending March 31 on revenue of just over $1 billion.

Birmingham, Ala.-based Medical Properties Trust has completed the sale of seven Australian hospitals for more than $475 million, with proceeds used to reduce its Australian term loan.

Headlines abound about California's hospitals being in financial difficulties, but a large majority of them don't need bailouts, according to a May 25 CaliforniaHealthline report.