Officials say Roger Williams Medical Center and Our Lady of Fatima Hospital are operating, but the state’s health care system does not have the capacity to absorb their patients if they were forced to close.
Prospect Medical Holdings has filed for bankruptcy and plans to restructure, maintaining patient services during the process.
In a statement, the company said specifically it was looking to expedite the sales of Roger Williams and Our Lady of Fatima medical centers.
In a series of coordinated efforts, the ACI Investigations Unit and associated task forces executed multiple arrests on January 16. Beth Kores, 59, of Richmond, Rhode Island, was apprehended for her second offense of violating a no-contact order.
The company has two hospitals in Rhode Island caring for thousands of the state’s most vulnerable patients. Here are answers to questions from patients and observers about how to navigate the bankruptcy.
In an initial filing seeking Chapter 11 protections, Prospect Medical Holdings, which owns facilities in California, Pennsylvania, Rhode Island, and Connecticut, listed debts of more than $400 million. In a press release announcing its restructuring, the company said it would continue to operate as normal.
The Rhode Island Department of Business Regulation and 47 other state agencies are set to receive their part of an $80 million fine agreed to by Block, Inc., operator of Cash App.
The lawsuit accused Prospect Medical Holdings, Inc. of mismanaging and neglecting the Crozer Health System, resulting in closures of facilities and a shattered network of care for hundreds of thousands of Pennsylvanians.
The move by Prospect Medical Holdings was long expected. Its local hospitals, including Crozer-Chester Medical Center in Upland and Taylor Hospital in Ridley Park, are expected to continue operating.
Healthcare powerhouse, Prospect Medical, declares bankruptcy after a whopping $400 million debt. As they tend to shut half of their clinics, 12,600 people might lose their job and netizens are furious!
The health system's financial unraveling has similarities to the much-maligned collapse by Steward Health Care. The spotlight on private equity ownership in healthcare is burning even brighter after Prospect Medical Holdings' descent.
A healthcare giant that operates 16 hospitals across four states has filed for bankruptcy - with plans to offload several of them. Prospect Medical Holdings - which also owns 166 clinics across California, Connecticut, Pennsylvania and Rhode Island, and employs 12,600 people - filed for Chapter 11 protection in Texas on Saturday.