CHICAGO (WBBM NEWSRADIO) -- A health system that owns hospitals in Uptown and Oak Park has filed for bankruptcy.
California-based Pipeline Health has seven hospitals in three states including Weiss Memorial Hospital in Uptown and West Suburban Medical Center in Oak Park, which the company has owned since 2019.
Pipeline Health plans to continue operations normally during the proceedings.
“We intend for the restructuring process to allow our hospitals to remain open and operating in their communities, while putting the hospital system in a more secure and sustainable financial position going forward,” said Pipeline CEO Andrei Soran in a statement.
“Our employees and physicians across the organization have a long tradition of caring for patients in their communities, and our goal is for that care to continue.”
The company decided to for file for bankruptcy due to many struggles "exacerbated by the COVID-19 pandemic, including skyrocketing labor and supply costs, decreased ability to generate revenue, and delayed payments from various insurance plans for critical patient care services already delivered," as stated in its news release.
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