A U.S. Bankruptcy Court has approved a reorganization plan for Hawaii Medical Center, Honolulu, which will allow the center's two facilities to convert to not-for-profit status.
Reorganization plan OK'd for Hawaii system
Under the approved plan, 102-bed Hawaii Medical Center East, in Honolulu, and 65-bed Hawaii Medical Center West, in Ewa Beach, will switch from for-profit to not-for-profit status. Current management will remain in place. The system expects to emerge from bankruptcy protection by July 1.
“We are obviously very pleased with the court's decision,” said Salim Hasham, chief operations and restructuring officer for the medical center, in a statement. “We look forward to exiting from bankruptcy and returning our focus to becoming among the best medical centers in Hawaii.”
Hawaii Medical Center is currently the only for-profit hospital system on the Hawaiian Islands. The system filed for Chapter 11 bankruptcy protection in August 2008.
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