10 hospital bankruptcies in 2018

From reimbursement landscape challenges to dwindling patient volumes, many factors lead hospitals to file for bankruptcy.

Here are 10 hospitals and health systems that have filed for bankruptcy since Jan. 1, beginning with the most recent.

1. The hospital district that operated Coalinga (Calif.) Regional Medical Center before it closed earlier this year filed for Chapter 9 bankruptcy Sept. 5. Coalinga Regional Medical Center CEO Wayne Allen said the hospital owes $5 million to unsecured creditors — $250,616 of which it owes to 115 employees for accrued vacation and sick time.

2. El Segundo, Calif.-based Verity Health, which operates six hospitals in California, filed for bankruptcy Aug. 31

3. Magee (Miss.) General Hospital filed for Chapter 11 bankruptcy Aug. 24. The hospital entered bankruptcy protection to reorganize its debt, and officials said the facility will remain open during the bankruptcy process.

4. Knoxville, Tenn.-based Curae Health and its three hospitals in Mississippi filed for Chapter 11 bankruptcy Aug. 24. The three Mississippi hospitals included in Curae's bankruptcy case are Gilmore Memorial Hospital in Amory, Panola Medical Center in Batesville and Northwest Mississippi Medical Center in Clarksdale.

5. Rockdale, Texas-based Little River Healthcare, its parent company and several of its affiliated entities entered Chapter 11 bankruptcy July 24. One of the hospitals included in the bankruptcy filing, Crockett, Texas-based Timberlands Hospital, closed in 2017.

6. Florence (Ariz.) Hospital at Anthem entered Chapter 11 bankruptcy in late May after it failed to contest an involuntary bankruptcy petition from creditors within the required 21-day timeline.

7. Gilbert (Ariz.) Hospital, which is affiliated with Florence Hospital at Anthem, entered Chapter 11 bankruptcy May 24.

8. The Miami Medical Center, a 67-bed hospital that suspended services in October 2017, filed for Chapter 11 bankruptcy protection March 9. The hospital was sold in auction in late June.

9. Iron County Medical Center, a critical access hospital in Pilot Knob, Mo., filed for Chapter 9 bankruptcy Feb. 21. The hospital is owned by the Iron County Hospital District.

10. Surprise Valley Health Care District, which operates 26-bed Surprise Valley Hospital in Cedarville, Calif., filed for Chapter 9 bankruptcy Jan. 4.

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