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Mercy Hospital

All articles tagged with #mercy hospital

accident2 years ago•3 min saved

Fatal Helicopter Crash Claims 3 Lives near Hydro

Three people were killed in an Air Evac Lifeteam helicopter crash near Hydro, Oklahoma, as they were returning to base after dropping off a patient at Mercy Hospital in Oklahoma City. The National Transportation Safety Board is leading the investigation, and a preliminary report of the crash won't be available for at least a month, with the full investigation possibly taking 12 to 48 months. The names of the crew members aboard the flight have not been released, and the company's primary focus is on supporting the families and team members affected by the tragedy.

via KOCO Oklahoma City|

#accident #air-evac-lifeteam #helicopter-crash

healthcare2 years ago•4 min saved

Preston Hollow Outbids UI for Mercy Hospital Rights in American Healthcare

Mercy Hospital in Iowa City has been sold to Preston Hollow Community Capital, one of its principal creditors, in a bankruptcy auction, beating out the University of Iowa Hospitals and Clinics. American Healthcare Systems, a Los Angeles-based healthcare operator, will assume operations of the 194-bed hospital. The new owners are expected to take over hospital operations and finances in mid-November. The hospital will be organized as an Iowa not-for-profit organization with board members comprised of community leaders. The University of Iowa expressed disappointment but is heartened that the selected bidder has committed to keeping Mercy Iowa City as a hospital.

via Iowa City Press-Citizen|

#american-healthcare-systems #bankruptcy-auction #healthcare

health-care2 years ago•3 min saved

Mercy-Iowa City's Bankruptcy Paves Way for U of I Hospital Takeover

Mercy Hospital of Iowa City has filed for bankruptcy and announced plans for its acquisition by the University of Iowa in order to preserve continuity of care for patients and provide ongoing opportunities for physicians and employees. The proposed purchase, which is subject to approval by the Iowa Board of Regents and the bankruptcy court, aims to secure the hospital's assets and establish an advisory board and chief administrative officer for the hospital. The bankruptcy filing comes after Mercy's largest creditor, Preston Hollow Community Capital, claimed the hospital was in a "financial freefall" and sought the appointment of a receiver. Mercy disputes these claims and argues that Preston Hollow's actions put the hospital and its community at risk.

via Iowa Capital Dispatch|

#acquisition #bankruptcy #financial-troubles

healthcare2 years ago•4 min saved

"Financial Crisis at Mercy Iowa City: Receiver Sought to Take Control"

Mercy Hospital-Iowa City, a 234-bed acute care hospital in Iowa City, is facing financial collapse and may be placed in receivership. Preston Hollow Community Capital, the hospital's largest senior secured creditor, has filed a court petition seeking the appointment of a receiver to address unsustainable financial losses and prevent closure. The finance company blames the hospital's board of directors for making decisions that have jeopardized the hospital's mission and ability to meet financial obligations. The hospital disputes the default notice and argues that it has made required bond payments and reduced reliance on traveling nurses. Preston Hollow alleges that the hospital's liquidity has declined by $40 million over the past nine months, with negative cash flow of $2.6 million per month. The hospital's net assets dropped from $96.8 million in 2021 to $55.8 million in 2022.

via Iowa Capital Dispatch|

#board-of-directors #financial-crisis #healthcare