St. Francis sold the two Honolulu, Hawaii, hospitals — now called HMC East and HMC West — in Jan. 2007. In Aug. 2008, Hawaii Medical Center filed for bankruptcy and currently owes St. Francis $46.3 million in loans.
In its reorganization plans, St. Francis seeks to re-acquire the hospitals from Hawaii Medical Center and plans to select a hospital management company to operate the two facilities, according to the report.
A bankruptcy judge will soon determine whether or not the plan, and plans by HMC and an unsecured creditors’ committee, are feasible before they are reviewed by creditors.
Read the Star Bulletin’s report on St. Francis Healthcare System’s bankruptcy reorganization.
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