Trios Health files for Chapter 9 bankruptcy
KENNEWICK, WA - Trios Health officially announced today that it has filed for Chapter 9 bankruptcy.
Trios is currently $221 million in debt. CEO Craig Cudworth says bankruptcy was the best option for the hospital to reorganize its debts. He says they hope to be out of bankruptcy in one to three years, and that during this time, patients and staff won't see a difference in day-to-day operations.
"Another option would have been to sit down with our major creditors to negotiate," said Cudworth. "However, we were unable to arrange for them to do that."
Addressing rumors of a takeover by Providence Health, Cudworth said those rumors aren't true, and that they've had no discussions with the healthcare organization about merging Trios into Providence.
Read more: http://www.nbcrightnow.com/story/35792676/trios-health-files-for-chapter-9-bankruptcy
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