Deals
Quorum’s 24 Hospitals Face Bankruptcy Amid Covid-19 Pressure
- Health-care company was already ailing before the virus came
- The chain serves 14 states as the pandemic spreads across U.S.
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Quorum Health Corp., the operator of two dozen hospitals in 14 states, is preparing for a potential bankruptcy filing as the looming flood of coronavirus patients puts pressure on the already shaky finances of health-care providers throughout the U.S. The stock lost about a third of its value.
Management has been negotiating with stakeholders on a variety of possible deals, according to people with knowledge of the company’s plans, who asked not to be named discussing private negotiations. At the same time, Quorum is preparing Chapter 11 plans as hope fades for an out-of-court solution, the people said. No decision has been made, and the outcome could still change.