The Oahu based hospital, Hawaii Medical centre are going to emerge from bankruptcy after their approval of Chapter 11 reorganization plan. The company executives are highly optimistic and very eager to go ahead with this plan.
Te approved plan will let he Hawaii Medical centre to pay the millions of dollars that they own in debt to St.Francis Health care system and Siemens Financial Services. A total of $43 million is still owed to these two banks. The bank is planning to move ahead with the restructured organization and is planning on gaining some growth in Hawaii’s only for profit hospital. This plan was stuck in legal tangles between three parties, the light came in the plan formed by the hospitals’ physicians was approved by the St. Francis Healthcare system.
The next step in the growth of these hospitals is in converting these fro profit hospitals to nonprofit hospitals. The Hawaii Physician group a 130 member physician group will oversee the running of the hospitals and the old management team will be the same. Everyone sees this decision to make the working of the hospital more transparent and.
Hawaii Medical Centre sees itself out of bankruptcy
Leave a reply