Americore Health and its four affiliated hospitals in Pennsylvania, Tennessee, Missouri and Arkansas entered chapter 11 protection on Dec. 30, Becker's Hospital Review reported. The bankruptcy petitions state that three of the hospitals — Ellwood Medical Center in Ellwood City, Pa., St. Alexius Hospital in St. Louis and Izard County Medical Center in Calico Rock, Ark. — each entered bankruptcy with less than $50,000 in assets and less than $50,000 in liabilities. Pineville (Ky.) Medical Center's assets total between $1 million and $10 million, and its liabilities are within the same range, according to the bankruptcy petition. Fort Lauderdale, Fla.-based Americore's affiliate hospitals have faced financial troubles for months. Most recently, Ellwood Medical Center shut down Dec. 10, laid off 152 employees and fell behind on payroll. Read more.
For more on hospital and health care insolvencies, be sure to pick up a copy of the ABI Health Care Insolvency Manual, Third Edition from the ABI Bookstore.
