Doctors' Hospital of Michigan in Pontiac, Mich., will delay until Jan. 28 a decision to either close or institute a mass layoff, according to a Detroit News report.
The 690 employees of the hospital were notified in November that a closure or mass layoff could occur, with a decision on the matter scheduled for Jan. 3.
The hospital recently extended the decision until the end of the month due to "ongoing discussions and continued efforts to restructure or sell the facility," said Clarence M. Sevillian II, president and CEO of Doctors' Hospital, in a letter to Michigan's Department of Energy, Labor & Economic Growth, which must receive notice of certain business closures or mass layoffs.
The hospital is owned by McLaren Health (with a 35 percent stake) and 42 physicians (who own a collective 60 percent stake) and lacks required funding for capital investments, according to the report.
Read the Detroit News report on Doctors' Hospital of Michigan.
Read more coverage on Doctors' Hospital of Michigan:
- Physician-owned Doctor's Hospital of Michigan Plans To Restructure or Sell
The 690 employees of the hospital were notified in November that a closure or mass layoff could occur, with a decision on the matter scheduled for Jan. 3.
The hospital recently extended the decision until the end of the month due to "ongoing discussions and continued efforts to restructure or sell the facility," said Clarence M. Sevillian II, president and CEO of Doctors' Hospital, in a letter to Michigan's Department of Energy, Labor & Economic Growth, which must receive notice of certain business closures or mass layoffs.
The hospital is owned by McLaren Health (with a 35 percent stake) and 42 physicians (who own a collective 60 percent stake) and lacks required funding for capital investments, according to the report.
Read the Detroit News report on Doctors' Hospital of Michigan.
Read more coverage on Doctors' Hospital of Michigan:
- Physician-owned Doctor's Hospital of Michigan Plans To Restructure or Sell