Prospect Health Moves Closer to Offloading Connecticut Hospitals in Bankruptcy Proceedings
BRIDGEPORT, Conn. — The owner of several hospitals in Connecticut, now facing bankruptcy, informed a federal judge that a sale of its facilities is imminent. During a recent court hearing, officials from Prospect Medical Holdings, which owns a network of hospitals, provided an update on its restructuring process, highlighting that negotiations to sell the hospitals have progressed significantly. Prospect’s financial difficulties have put its continued operation in jeopardy, prompting the company to seek protection under Chapter 11. The proceedings included a discussion of the hospitals’ financial health and operational status, with the expectation that a … Read more