Mississippi hospital files for bankruptcy

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.

"The hospital is not closing," Frank Wade, MD, a member of the hospital's board, told MageeNews.com. "We are reorganizing. This is not the end, but a beginning to a stronger future for Magee General Hospital."

In its bankruptcy petition, Magee General Hospital listed its assets as between $1 million and $10 million and listed its liabilities in the same range.

More articles on healthcare finance:

South Carolina hospital to close: 4 things to know
Michigan hospital blames 'aggressive, direct competitor' for financial troubles
Texas microhospital forced to close due to sharp decline in reimbursement

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Articles We Think You'll Like

 

Featured Whitepapers

Featured Webinars