Miami Hospital Files For Bankruptcy
The Miami Medical Center, a 67-bed hospital that suspended patient services in October 2017, filed for Chapter 11 bankruptcy protection March 9.
Here are four things to know.
1. Leawood, Kan.-based Nueterra, along with its partners, acquired Miami Medical Center in 2014 and invested $70 million in the facility. Children’s Health Ventures, the for-profit arm of Miami-based Nicklaus Children’s Hospital, invested in Miami Medical Center with hopes of bringing a unique care model to South Florida. However, the Miami Medical Center struggled to stay afloat.
2. The hospital suspended patient services Oct. 30, 2017, and subsequently laid off its 180 employees.
3. In its bankruptcy petition, the hospital listed its assets as between $10 million and $50 million, and its liabilities as between $50 million and $100 million.
4. Miami Medical Center listed the creditors who have the largest unsecured claims against the hospital in its bankruptcy petition. According to the petition, the hospital owes about $1.2 million to Cardinal Health, $1.4 million to Aramark Healthcare Support Services and about $802,000 to Miami Anesthesia Services.
Source: Beckers Hospital Review