In a 43-page report, consultants said NuHealth can’t survive beyond 2022, when it will run out of operating cash. The consultants blamed the operating cash flow problems on years of political turmoil inside NuHealth.
The consultants said NuHealth had $811 million in liabilities that exceeded assets as of Dec. 31, 2019.
Consultants Alvarez & Marsal of Manhattan said that to survive NuHealth would need to eliminate emergency services, most inpatient care and reduce the workforce at the medical center from 3,400 to about 300.
The consultants also recommended NuHealth sell its licensed 589-bed nursing home, which is expected to report $27 million to $35 million annual losses, according to the report.
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