The owner of Weiss and West Suburban hospitals has filed for chapter 11 bankruptcy — Owner of Weiss, West Suburban hospitals files for bankruptcy
The owner of Weiss and West Suburban hospitals has filed for chapter 11 bankruptcy — a move that comes amid efforts to sell the facilities.
Pipeline Health System, a for-profit health system based in California, filed for bankruptcy relief Sunday in U.S. Bankruptcy Court for the Southern District of Texas. It has owned Weiss in Uptown and West Suburban in Oak Park since 2019.Pipeline said in a news release that it plans to “continue to operate under the normal course of business during the Chapter 11 proceedings,” keeping its hospitals open. Pipeline said it will continue to pay salaries.
The news comes just months after the state Health Facilities and Services Review Board approved Pipeline’s plans to sell Weiss and West Suburban for $92 million to Resilience Healthcare, a newly created, for-profit company led by Manoj Prasad, who has said he’s spent much of his career helping to turn around health care facilities.
“If the buyer is unable to close the sale, Pipeline plans to undertake a marketing process to identify other potential buyers,” Pipeline said.
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