Cheboygan Memorial Hospital files bankruptcy
Thu, 01 Mar 2012 21:55:56 GMT —
Cheboygan Memorial Hospital (CMH) is heading to bankruptcy court.
In a statement released Thursday, hospital officials said the decision had to be made in order to continue to provide hospital services to the Cheboygan community.
Chapter 11 bankruptcy will allow Cheboygan Memorial Hospital to continue with operations while restructuring. Flint-based Mclaren Health Care has agreed to give the hospital a loan as the hospital goes through the Chapter 11 process. Without the loan, hospital officials say they would have had to close immediately.
Last year, the hospital claims it lost more than seven million dollars.
To view the full press release from Cheboygan Memorial Hospital click here.