Tuesday, July 5, 2011

Quincy Hospital Closing?

"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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