Major healthcare chain closes locations, lays off staff
A major healthcare provider is closing several clinics.
American healthcare providers have battled financial distress over the last year with several companies closing locations, selling off facilities, and in some cases filing for bankruptcy to reorganize their businesses and restructure debt.
In 2024, five hospital operators filed for bankruptcy after 12 companies filed petitions in 2023. Private hospital operator, Steward Health Care, which operated 31 hospitals in eight states, filed for bankruptcy in May 2024 to sell its assets and reduce $9 billion in debt.
