Westerly (R.I.) Hospital has filed for receivership in a state district court, which is expected to appoint a special master to help the hospital restructure debt and address its financial problems, according to a Providence Business News report.
A hospital spokesperson has said the receivership will not affect patient care; services and hours; or salaries, wages and benefits for employees.
William G. McKendree, chairman of the hospital’s board, said Westerly is likely to emerge as a strong institution after a period of receivership. “We have taken this action because we believe it is the best way to strengthen Westerly Hospital and ensure that it continues as a key part of our community long into the future,” Mr. McKendree said in the report.
Westerly has not made a profit in 20 years, according to prior reports.
Related Articles on Westerly Hospital:
Rhode Island’s Westerly Hospital “Aggressively” Seeks Partnership to Survive
Rhode Island’s Westerly Hospital’s Financial Woes Grow to $5.7M in Red
In Affiliation Talks, Rhode Island’s Westerly Hospital Emphasizes Physician Input
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