BC Advantage - 2025 Issue 1

Massive Hospital Group That Manages 11,000+ Doctors Files for Bankruptcy

Prospect Medical Holdings Inc., known for buying struggling hospitals, filed for bankruptcy after struggling with major debts and high costs.   Key Facts: The bankruptcy petition, filed in Texas, shows $1 billion to $10 billion in both assets and liabilities. Prospect Medical manages more than 16 hospitals, serving places like Southern California, Connecticut, and New Jersey. Over 100,000 creditors are listed in the filing. Medical Properties Trust Inc. had accused Prospect of defaulting on its obligations last year.   The Rest of the Story:   Prospect Medical ("Prospect") developed a reputation for acquiring distressed hospitals in hopes of...

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