In its bankruptcy petition, the 230-bed hospital said it has assets of $1 million to $10 million and liabilities of between $10 million and $50 million, according to the report.
The bankruptcy filing comes after Los Angeles-based Pipeline Health said it planned to close Westlake Hospital. Pipeline acquired the hospital from Dallas-based Tenet Healthcare in January. The company revealed plans to close Westlake Hospital a few weeks after the transaction closed, saying financial losses exceeded projections.
Pipeline started winding down services at the hospital in April after the Illinois Health Facilities and Services Review Board voted to approve its application to shut down the facility. The shutdown was halted in May when a Cook County Circuit Court Judge ruled that the hospital must stay open pending the outcome of a lawsuit filed by the Village of Melrose Park.
In court documents, Westlake Hospital said it lost up to $2.7 million in July, and the hospital was 80 percent empty last month, according to the report.
Access the full Chicago Tribune article here.
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