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Fri Dec 16, 2011, 05:07 PM

Former St Francis Hospital shutting down

http://www.staradvertiser.com/news/breaking/135753148.html

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Reply Former St Francis Hospital shutting down (Original post)
ProgressiveProfessor Dec 2011 OP
ellisonz Dec 2011 #1

Response to ProgressiveProfessor (Original post)

Fri Dec 16, 2011, 05:37 PM

1. Disappointing management - and more unemployed workers.

How do you get $39 million in debt without doing something to balance the books? Now these communities are even more under serviced. Pretty soon they're going to need to make Tripler public!

Hawaii Medical Centers, the former St. Francis hospitals in Liliha and Ewa, will immediately wind down operations after rejecting an offer from a potential buyer.

HMC filed for bankruptcy protection in June. The U.S. bankruptcy court approved the process for closing the hospitals today.

The hospitals, which employ 990 workers, will close in about three weeks, HMC said.

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An affiliate of Prime Healthcare Services, a California hospital owner and operator, offered to pay a minimum of $25 million for HMC. St. Francis, HMC's main creditor, objected to the initial offer that would've paid it $11.3 million. St. Francis is owed $39 million, according to court documents. Following St. Francis' objection, HMC decided not to continue talks with Prime Healthcare.


Good thing this one doesn't require subscription!

Aloha ProgressiveProfessor!

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