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
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
