We just had the same happen not too long ago here the Los Angeles area, Century City, right on the outskirts of Beverly Hills that could not
come up with buyer and had to close down at the end of August. Hospitals even the affluent areas are not even safe.
Lincoln Park Hospital may be in one Chicago’s fanciest neighborhoods. But the tony location hasn’t spared the facility from the vicissitudes of the financial markets. The Chicago Tribune reports the aging hospital has put itself on the market after failing to come up with millions of dollars to finance improvements and fund operations. If no buyer surfaces, the money-losing hospital may close.
The hospital, owned by Merit Health Systems, had been seeking additional financing without success. “Access to capital has been shrinking and shrinking and shrinking, and the outlook is worsening by the week,” Curran told the Trib.
http://blogs.wsj.com/health/2008/10/09/chicago-hospital-hangs-for-sale-sign-citing-credit-crunch/
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