Prospect Medical Holdings has filed for bankruptcy and plans to restructure, maintaining patient services during the process.
Those payments will steadily escalate over the next two years, reaching their fully stabilized rate at the end of 2026 (about 95% of Steward's lease rate). That growing income stream could enable Medical Properties Trust to rebuild its dividend following two deep cuts in recent years.
Prospect Medical Holdings filed for bankruptcy amid ongoing complications over the sale of its three CT hospitals to Yale New Haven Health.
Prospect Medical Holdings - which also owns 166 clinics across California, Connecticut, Pennsylvania and Rhode Island, and employs 12,600 people - filed for Chapter 11 protection in Texas on Saturday.
Prospect’s bankruptcy filing also comes after months of legal battles with state governments, including Connecticut, Pennsylvania and Rhode Island, over allegations of financial mismanagement and underinvestment in their hospital systems. Lamont framed ...
This story originally appeared in Connecticut Mirror, a content partner of States Newsroom. Read the original version here. The California-based hospital operator, which also owns facilities in California, Pennsylvania and Rhode Island, filed for Chapter ...
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