Trinity Regional Hospital Sachse, a full-service hospital and emergency room near Dallas, filed for bankruptcy with plans to sell itself just two years after opening.
The hospital’s parent entity listed assets of as much as $100 million and liabilities of as much as $500 million in its bankruptcy petition. The hospital is in default on nearly $70 million of municipal bonds issued in 2020, according to data compiled by Bloomberg.
Hospitals — particularly those in rural areas — have suffered tremendously in recent years as they contend with higher labor costs and staffing shortages exacerbated by the pandemic. Meanwhile, rating downgrades have plagued the nonprofit medical sector as facilities continue to struggle. Read more.
