Hospitals in Illinois, New Hampshire and Texas filed for bankruptcy protection in the past year.
Heights Hospital in Houston filed for Chapter 11 bankruptcy in June. At that time, the hospital had assets of $100 million to $500 million and liabilities ranging from $10 million to $50 million. The bankruptcy came after the hospital abruptly closed and locked out staff in January. Heights Hospital was once an acute care hospital but more recently provided outpatient and specialty care.
Mercy Hospital & Medical Center in Chicago filed for Chapter 11 bankruptcy in February. In a news release announcing the bankruptcy, the hospital's owner, Livonia, Mich.-based Trinity Health, said Mercy staff departures and mounting financial losses were challenging its ability to provide safe patient care. The hospital was set to close before nonprofit organization Insight Chicago acquired the facility in May.
Laconia, N.H.-based LRGHealthcare and its two hospitals entered Chapter 11 bankruptcy in October 2020. The system entered bankruptcy with a debt load of more than $100 million. LRGHealthcare tried to secure a partner for more than two years to help stabilize its finances. Health system leadership said filing for bankruptcy was necessary after it became clear that the system's debt would be an impediment to any deal. Concord (N.H.) Hospital acquired LRGHealthcare out of bankruptcy earlier this year.