Tyrone Hospital Emerging From Bankruptcy
By: Charlotte Ames
Updated: June 14, 2010
A hospital in central Pennsylvania is emerging from Chapter 11 bankruptcy. Tyrone Hospital officials have announced that the United States Bankruptcy Court has approved their plans for reorganization.
“The Tyrone Hospital family has worked very hard to get to this point,” said Stephen Gildea, Tyrone Hospital CEO. “A tremendous effort has been put forth over the past 12 months to position us for this day. We are very pleased and very proud. This is a great day for us!”
The hospital filed Chapter 11 bankruptcy in September 2006. The target date for the bankruptcy to officially close is July 24th.
According to hospital officials, the use of outpatient services has increased 12% over the past 11 months. Also, the addition of new physicians providing new services and an improvement in diagnotic technology have helped the facility turn its finances around.
“The Tyrone Hospital family has worked very hard to get to this point,” said Stephen Gildea, Tyrone Hospital CEO. “A tremendous effort has been put forth over the past 12 months to position us for this day. We are very pleased and very proud. This is a great day for us!”
The hospital filed Chapter 11 bankruptcy in September 2006. The target date for the bankruptcy to officially close is July 24th.
According to hospital officials, the use of outpatient services has increased 12% over the past 11 months. Also, the addition of new physicians providing new services and an improvement in diagnotic technology have helped the facility turn its finances around.
