Adventist, the healthcare system that planned to take over operations of the shuttered, bankrupt Madera Community Hospital in California, has backed out of negotiations — calling into question whether the hospital can find a viable partner to reopen before creditors push for liquidation of its assets.
Riley C. Walter, an attorney representing the Madera hospital in its bankruptcy proceedings, told The Fresno Bee that Adventist Health informed the hospital it was “unable to find a fiscally viable solution for the costly process of reopening, especially given the limited financial resources available and current economic pressures facing rural and safety net providers.”
Hospital creditors announced in a bankruptcy hearing Thursday that they are taking steps to liquidate, or sell off, the hospital’s assets to pay back creditors. Read more.
