From small-town Vermont to Los Angeles, local governments are commandeering shut-down hospitals to add space amid the coronavirus pandemic—a trend that could revamp the market for health-care facilities. Just months ago, St. Vincent Medical Center in Los Angeles and Astria Regional Medical Center in Yakima, Wash., were closed, unable to bring in enough revenue to stay afloat. Both are poised to reopen with the help of state funds and, in the case of St. Vincent, $135 million from the family foundation of Patrick Soon-Shiong, the billionaire owner of the Los Angeles Times. In Vermont, a bankruptcy court pulled back from the brink one of many hospitals facing a financial squeeze from the drop-off in lucrative surgeries that are critical to their bottom lines. In West Virginia, a government-funded community health-care group stepped in with a deal that will save critical beds at another bankrupt small hospital.
Read the full article: Coronavirus Crisis Puts Bankrupt Hospitals Back in Demand //
Source: https://www.wsj.com/articles/coronavirus-crisis-puts-bankrupt-hospitals-back-in-demand-11586165400