Mandeville, La.-based Progressive Acute Care has filed for Chapter 11 bankruptcy for three of its Louisiana hospitals: Winn Parish Medical Center in Winnfield; Avoyelles Hospital in Marksville; and Oakdale (La.) Community Hospital.
Progressive also filed for Chapter 7 bankruptcy for Dauterive Hospital in New Iberia, La., which closed in December. The hospital's assets were subsequently purchased by Iberia (La.) Medical Center. IMC provides outpatient procedures at the once-shuttered facility and has plans to reintroduce inpatient services toward the end of 2016, according to The Acadiana Advocate.
In the bankruptcy filings, Progressive listed its total liabilities at between $10 million and $50 million, and the total value of its assets at between $1 million and $10 million. More specific asset and liability figures will be fleshed out at the bankruptcy proceedings move forward.
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