Crain’s: Westlake Files For Bankruptcy, Owner Says

Tuesday, August 6, 2019 || By Local News Curator || @maywoodnews 

Crain’s has reported that Westlake Hospital, 1225 W. Lake St. in Melrose Park, filed for Chapter 7 bankruptcy today, according to its owner, Pipeline Health.

In a statement, Crain’s reports, Pipeline said “the 230-bed hospital has consistently been 80 percent empty in recent months and has been losing almost $3 million a month ‘in the face of declining local, state and federal health care funding, along with cost-cutting pressure from private payers.'”

Westlake reportedly asked that a Chapter 7 trustee allow it to “continue to operate the hospital for short period of time, subject to further extension in the trustee’s business judgment.”

Read the full Crain’s report here. Read the Modern Healthcare report here. Read the Chicago Tribune report here. VFP

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