BLOOMINGTON, Ind. (AP) — The limited liability corporation that owns a Bloomington hospital has filed for bankruptcy and plans to sell it to a California hospital operator.
The Herald Times reports that Monroe Hospital will likely be purchased by Prime Healthcare, based in Ontario, California.
Bankruptcy documents filed in an Indianapolis court say the 32-bed hospital struggles financially due to low patient volume. The documents estimates the hospital’s assets to be somewhere between $10 million and $50 million, while the liabilities are estimated to total $100 million to $500 million.
The hospital’s CEO says none of the hospital’s employees will be laid off. He says the hospital will remain open and operate fully during the reorganization.
He says the bankruptcy process can take several months, and then the sale of the hospital will be fully worked out.