(BLOOMINGTON) - Bloomington's Monroe Hospital LLC has filed for Chapter 11 bankruptcy and plans to sell its business to a Prime Healthcare a California hospital operator.
The bankruptcy, filed in federal court in Indianapolis, says the 32-bed hospital had more than twice as many liabilities as assets, and has been losing money due to low patient volume.
The 32-room hospital owes more than $120 million, and the largest debts are with the hospital's landlord.
Monroe Hospital is the smaller of Bloomington's two main hospitals and not to be confused with IU Health Bloomington.
The Herald Times spoke with the hospital's CEO Joe Roche who said none of the hospital employees will lose their jobs as a result of the situation, and the hospital is still open and providing a full range of services.
Have a question or comment about a news story? Send it to email@example.com