Healthcare system present in multiple states files for bankruptcy protection
- Prospect Medical Holdings filed for Chapter 11 bankruptcy in the U.S. Bankruptcy Court for the Northern District of Texas, citing financial difficulties and regulatory pressure over its operating practices.
- The health system reported $1 billion to $10 billion in assets and liabilities, with over 100,000 creditors involved in the bankruptcy filing.
- Prospect plans to sell hospitals and focus on its core operations in California, including expediting the sale of its Rhode Island hospital to Centurion Foundation.
- The Senate Budget Committee report accused Prospect's private equity owners of prioritizing financial goals over patient outcomes, with $645 million paid to investors while defaulting on loans.
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Coverage Details
Total News Sources0
Leaning Left12Leaning Right10Center11Last UpdatedBias Distribution36% Left
Bias Distribution
- 36% of the sources lean Left
36% Left
L 36%
C 34%
R 30%
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