Reported about 17 hours ago
Prospect Medical Holdings Inc., a private hospital operator managing over 16 hospitals and 11,000 doctors, has filed for bankruptcy due to overwhelming debt and rising costs. The company, which reported assets and liabilities in the range of $1 billion to $10 billion and has more than 100,000 creditors, is the latest in a series of hospital operators facing financial troubles. Concerns have arisen about the impact of such bankruptcies on local communities and the regulation of private equity-owned hospitals.
Source: YAHOO