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Hawaii Medical Center officiala detailed the change in their latest reorganizationh plan filed Mondayin U.S. Bankruptcy Court in They will keeptheir other, more profitable hospital, HMC West in Ewa, a for-profitf entity. In Monday’s 59-page filing, Hawaii Medicalk Center asked the court to reduce the amountg of money it owesto , specificallt the $46 million for the purchasee of the two hospitals and $14 millio for the land lease. It also is negotiating with creditorse and lenders to repat millions in loans over the nextfour years. St. Franci CEO Sister Agnelle Chinfg said in a statement that she is concernecd with thenew plan, addiny that St.
Francis has been more than patient with Hawaiii Medical Center both before and during thebankruptcyt proceedings. “We have not received payments on our loan to them fora year, and the past-due amount has now reachex more than $9 million,” she said in the “These are funds we have been counting on to expan our health-care services to the community. Our expansionh plans have been put in jeopardy and we do not want to delay our plansany further.” Hawaii Medica l Center, which bought the former St. Francids hospitals in January 2007for $67.9 million, filed for Chapte r 11 bankruptcy protection in U.S. Bankruptcy Court last Aug.
28 after its Siemens Financial, refused to extend existing loan agreements for its HMC East andHMC West. Last the hospital laid off more than 230 employees to cut costswand restructure. It now has approximately 700 Hawaii Medical Center is a partnership of CHA an affiliateof , a leading U.S. hospitall management company, and the more than 130 Hawaii-based physicianas who form LLC.
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