HealthBridge Puts 5 Connecticut Centers Into Bankruptcy
HealthBridge Management LLC put five Connecticut nursing homes into bankruptcy, citing burdensome union costs. HealthBridge itself didn’t file.
The centers are Long Ridge of Stamford, and the Westport, Newington, West River and Danbury Health Care Centers, listing as much as $50 million in assets and debts, according to papers filed yesterday in U.S. Bankruptcy Court in Newark, New Jersey.
“The centers have a bright future if they can operate under labor agreements that reflect today’s financial realities,” Lisa Crutchfield, HealthBridge labor relations vice president, said in a company statement today.
She said the filings won’t affect patient care or the operation of other nursing facilities. Without court protection from creditors, the centers would be losing $1.3 million a month faced with “the crushing burden of unsustainable labor costs,” she said.
The case is In re 710 Long Ridge Road Operating Co. II LLC, U.S. Bankruptcy Court, District of New Jersey (Newark).