Aliquippa (Pa.) Community Hospital emerged from two years of bankruptcy with an increased emphasis on behavioral-health services. A U.S. Bankruptcy Court judge in Pittsburgh approved the hospital's reorganization plan Aug. 23. Aliquippa will use a $7 million loan from Healthcare Business Credit Corp. to pay off debts, including a $2.3 million mortgage with Pacific Coast Investment Co. and $2.6 million in back taxes, said Anthony Puorro, the hospital's president and chief executive officer. The 112-bed hospital filed for Chapter 11 bankruptcy protection in 2002, with nearly $9 million in debts and $11 million in assets. Aliquippa lost $8.5 million on revenue of $21 million in 2003. It is breaking even this year on $27 million in revenue, Puorro said. Since October 2003, when Puorro joined the hospital, Aliquippa has reopened a 26-bed inpatient psychiatric unit and launched an outpatient mental-health clinic and a partial-hospitalization program for adolescents. It is in the process of opening an alcohol rehabilitation and detox unit. -- by Cinda Becker
Pa. hospital leaves bankruptcy with new strategy
Send us a letter
Have an opinion about this story? Click here to submit a Letter to the Editor, and we may publish it in print.