California Hospital With $193 Million Muni Debt Files Bankruptcy
Oroville Hospital issued about $196 million of municipal debt in 2019 to expand the 133-bed facility to 211 beds.
Source: Google Street ViewA California hospital about 70 miles north of Sacramento filed for Chapter 11 bankruptcy Monday after failing to sell itself or secure an affiliation with a larger hospital system.
The nonprofit Oroville Hospital has been struggling to pay $193 million of outstanding municipal debt used to finance a new tower. The construction of the facility was completed in March but its opening was delayed as the hospital awaits state approvals, according to a local news report.
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