Health Care Company Files for Bankruptcy Protection
YAKIMA, Wash. (AP) – A health care company in the Yakima Valley has filed for Chapter 11 bankruptcy protection, saying the move will allow it to protect hospitals in Yakima, Sunnyside and Toppenish.
Astria Health filed on Monday, citing issues with an electronic health records system and a company it hired to manage its revenues.
The Yakima Herald-Republic says many of Astria Health’s financial challenges originated at the Yakima hospital, where debts are much higher than assets, according to bankruptcy filings.
Astria Health has secured a $36 million loan that will fund its operations while it works through the bankruptcy process. Officials said they don’t plan to close facilities and jobs and wages will not be affected.
Information from: Yakima Herald-Republic, http://www.yakimaherald.com