Washington hospital avoids closure, saves 1,000 jobs

A bankruptcy judge has approved Kennewick, Wash.-based Trios Health's plan to sell its assets to Brentwood, Tenn.-based RCCH HealthCare Partners, a move that will allow Trios to remain open and keep its 1,000 employees, according to the Tri-City Herald.

The healthcare district that owns Trios Health filed for Chapter 9 bankruptcy in June 2017. Chapter 9 bankruptcy offers distressed municipalities protection from creditors while a repayment plan is negotiated.

The health system emerged from bankruptcy this week after the district's unsecured creditors approved a plan to sell Trios' assets. Scott Landrum, the healthcare district's interim CEO, told the Tri-City Herald if the plan had not been approved, the district would have been forced to close the hospital and lay off its 1,000 employees.

Trios Health includes a full-service community hospital, a women's and children's specialty hospital, outpatient specialty offices, and urgent care clinics.

More articles on healthcare finance:

2 Arizona hospitals abruptly close after entering bankruptcy
California hospital closes, lays off more than 100 employees
New Jersey freezes hospital charity care payments

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