"Quincy hospital says it is bankrupt" July 02, 2011|By Robert Weisman, Globe Staff
Four days after Quincy Medical Center trustees approved a deal for it to be acquired by Steward Health Care System, the hospital filed for bankruptcy protection yesterday in a bid to dump more than $50 million in debt before the sale.
Steward = Cerberus
Some days it seems like the whole f***ing system is in debt and enslaved to the bankers.
Oh, right, that is the system here in AmeriKa come 2011.
Related: Does the Devil Have a Deal For You!
That's who giving you health care in the future?
The 196-bed hospital had not previously disclosed its plans to restructure in US Bankruptcy Court. Last month, it failed to make a monthly payment to bondholders on about $56 million it borrowed four years ago to finance renovations and a new power plant.
Uh-oh!
Trustee Richard P. Barry said the bankruptcy filing is necessary because neither Steward nor other potential buyers identified by a consulting firm, Navigant Capital Advisors, were willing to invest enough money to pay off the hospital's debts....
They did take on Caritas' debt.
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