Well here’s 2 hospitals right under the nose of Congress that couldn’t make it and and good thing they have a buyer. These are the city's only two long-term acute-care hospitals too. The hospital system is about 50 Million in debt, have unpaid taxes and so on. BD
Specialty Hospitals of America LLC will voluntarily enter Chapter 11 bankruptcy protection and sell both of its District hospitals to an investment firm after a group of creditors filed an involuntary bankruptcy petition against the hospital group last month.
Greenwich, Connecticut-based Silver Point Capital has agreed to buy Specialty's Capitol Hill and Hadley long-term acute-care hospitals for undisclosed terms. Silver Point will loan Specialty's D.C. subsidiary, Specialty Hospital of Washington, $15 million to continue operations at those hospitals during the court-supervised sale of its assets. Specialty Hospitals of America is based in Portsmouth, New Hampshire.
Employee pay and benefits will continue without interruption, and Specialty said it does not anticipate layoffs but could not say for sure. “It’s all in the hands of the court,” Proctor said.
In April, a group of businesses owed about $2.7 million filed an involuntary bankruptcy petition against the local subsidiary in U.S. Bankruptcy Court in Wilmington, Delaware. Those petitioning creditors include Amalgamated Capital Partners LLP, CroppMetcalfe, Capitol Hill Group, J-Don Enterprise LLC and JFW Services.
D.C. Director of Health Care Finance Wayne Turnage said the city has prepared a backup plan for how it would transfer patients should the quality of care deteriorate at the financially troubled hospitals. But he hopes that's more a last resort.