Becker's Healthcare January 13, 2025
Los Angeles-based Prospect Medical Holdings has filed for Chapter 11 protection as it works to sell 10 of its 16 hospitals.
Prospect said it initiated voluntary Chapter 11 proceedings to facilitate the timely completion of its planned hospital transactions, according to a Jan. 11 news release. All facilities will remain open and patient care will be uninterrupted throughout the Chapter 11 process. Prospect said it will prioritize operating community hospitals in California and is realigning its focus outside of the state.
The for-profit system operates seven hospitals in California, four in Pennsylvania, three in Connecticut and two in Rhode Island.
“Today’s actions represent an important step forward in our longstanding commitment to best serve the interests of our patients, physicians,...
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