Consumer Law

Chicago’s Mercy Hospital Files for Bankruptcy

Mercy Hospital and Medical Centers filed for Chapter 11 bankruptcy Wednesday just months before the historic Bronzeville hospital is expected to shutter its doors for good, a spokesperson confirmed.

Mercy, which is owned by Trinity Health, still plans to cease operations of all its departments — other than basic emergency services — on May 31. The controversial hospital closure is on the agenda for the Illinois Health Facilities & Services Review Board meeting on Mar. 16.

In a statement, Mercy, the city’s first hospital, said it was losing staff and experiencing “mounting financial losses” which challenged its ability to maintain a safe environment. The hospital lost more than $30.2 million in the first six months of the fiscal year, averaging about $5 million per month, the statement said. In debt of more than $303.2 million over the last seven fiscal years, the hospital said a minimum capital investment of over $100 million was needed for it to safely carry on its services.

Read the source article at Chicago Sun

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