Bankruptcy judge orders Georgia hospital to shut down

A bankruptcy judge has ordered Fort Oglethorpe, Ga.-based Hutcheson Medical Center to close within 30 days if no buyer for the distressed hospital is found, according to The Chattanooga Times Free Press.

Hutcheson Medical Center filed for chapter 11 bankruptcy protection last November in the hopes of restructuring debt to stabilize the organization and ensure long-term viability. However, the hospital, which has laid off 128 employees in recent months, currently does not have enough cash flow to support itself, according to the report.

On Friday, U.S. Bankruptcy Court Judge Paul Bonapfel ordered that the hospital's main campus, outpatient services and cancer center shut down within the next month if no buyer is found.

More articles on healthcare finance:

CMS releases OPPS rule for 2016, finalizes two-midnight changes: 10 things to know
LifePoint profit gets lift from new deals, jumps 58.5% in Q3
100-year old South Dakota hospital faces closure under VA plan

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers