Bankrupt Prospect Medical Gets Court Approval to Shut Hospitals

Prospect Medical Holdings Inc. received court approval to close several hospitals in Pennsylvania that have been struggling for months, according to a court order Wednesday.

There was no viable bidder, operator or third-party funding source for those facilities, an attorney for the company, Thomas R. Califano, wrote in a court filing this week.

Hospitals impacted by the decision include Crozer-Chester Medical Center, which admitted about 19,000 patients and delivered about 1,700 babies annually as of 2022, according to a facility brochure.

The Pennsylvania facilities had earnings before interest, taxes, depreciation and amortization losses of about $98 million during the ...