The Miami Medical Center, a 67-bed hospital, plans to lay off 180 employees after suspending patient services Oct. 30 due to financial challenges.
Leawood, Kan.-based Nueterra, along with its partners, acquired Miami Medical Center in 2014 and invested $70 million in the facility. Children's Health Ventures, the for-profit arm of Miami-based Nicklaus Children's Hospital, invested in Miami Medical Center with hopes of bringing a unique care model to South Florida. However, the hospital has struggled to stay afloat.
"Certain market factors led to challenges for the entity to maintain as a viable hospital today," Nicklaus Children's Hospital spokeswoman Jennifer Caminas told the South Florida Business Journal. "The investors have decided it is most appropriate to wind down operations and seek a new partner and/or option for this particular hospital. All patients are being appropriately managed in a safe and high quality manner to ensure no gaps in care or transition."
Miami Medical Center is working with an investment banking firm to secure capital and has been seeking a buyer since July.
According to a Worker Adjustment and Retraining Notification Act notice filed Oct. 27, Miami Medical Center's 180 employees will be laid off Dec. 22.
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