Lake Shore Health Care Center in Irving, N.Y., will keep its doors open at least through next week after a bankruptcy court judge agreed the hospital's operator could use auxiliary funds, according to a Buffalo News report.
In December, TLC Health Network, the operator of Lake Shore, filed for Chapter 11 bankruptcy. Lake Erie Regional Health System of New York, the parent of TLC and Lake Shore based in Dunkirk, N.Y., said TLC and Lake Shore, a 220-bed hospital, lost $16.7 million from operations from 2008 through 2012. Including the first 10 months of this 2013, TLC and Lake Shore lost $25.8 million.
Previously, Lake Shore announced it could close as soon as Jan. 14 if it did not receive supplemental funding. New York officials plan to give Lake Shore $1 million to keep it open for another month while Anthony Borrello, a local businessman, conducts due diligence on a possible deal, according to the report.
Brooks Memorial Hospital, the flagship of LERHSNY in Dunkirk, already loaned $3.7 million to TLC and Lake Shore last year.
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