Prospect Medical Holdings, owner of Crozer Health, files for Chapter 11 bankruptcy due to financial strain.
Prospect Medical Holdings, the owner of Delaware County's Crozer Health, has filed for Chapter 11 bankruptcy due to financial challenges exacerbated by the pandemic, inflation, a cyberattack, and increased health plan denials. The company plans to use this process to reorganize and potentially sell off hospital systems in several states. Crozer Health will continue to operate normally during the bankruptcy.
2 months ago
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