Health care
BY BRITTANY ANDERSON
The Hospital at Westlake les for Chapter 11 bankruptcy
Boutique hospital The Hospital at Westlake voluntarily led for Chapter 11 bankruptcy Sept. 8, a step that could keep the hospital in operation. CEO Dr. Mark Shen said in a news release that like other “industry peers,” the hospital has faced a number of challenges after the pandemic’s peak. Two-minute impact According to the release, the ling is part of the hospital’s e orts to manage debt that existed before but was exacerbated by the pandemic. The hospital initially “reduced its corporate overhead” and “consolidated organizational processes” to try to address these challenges, according to the release. Chapter 11 bankruptcies allow debtors and creditors to formally reorganize debts while the business remains operational. While there is no set timeline for when this process will be completed, all operations are expected to continue as normal, per the release.
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What they’re saying “Like many of our industry peers, we’ve battled immense challenges since the onset of the pan- demic, which have only magni ed the struggles businesses across every industry grapple with, including our own,” Shen said in the release. “Facing the stark reality of our nancial standing and the unrelenting pressures impacting our industry, we’re taking every measure possible to secure the future of our hospital.”
Operations will continue as normal as the hospital works through the bankruptcy process.
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