Tue December 6, 2011
Westerly Hospital to file for receivership
By MEGAN HALL
PROVIDENCE, RI – Westerly Hospital's financial difficulties have reached a crisis point. The medical center says it plans to file for receivership Wednesday in Superior Court.
Westerly Hospital says it's voluntarily filing for receivership as a way to restructure its debt and gain financial stability. After the filing, the medical center will receive a state appointed special master charged with overseeing the hospital's finances.
Westerly says patients won't notice a difference in their medical care and employees at the hospital will continue to get paid under the court protection.
Earlier in the year, Westerly announced a potential merger or partnership with Lawrence and Memorial Hospital in Connecticut. Those conversations are on hold for now.
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