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Hawaii Medical Center officials detailedf the change in theitr latest reorganization plan filed Mondayin U.S. Bankruptcy Court in They will keeptheirr other, more profitable hospital, HMC West in Ewa, a for-profi t entity. In Monday’s 59-page filing, Hawaii Medicalo Center asked the courft to reduce the amount of money it owesto , specificallty the $46 million for the purchases of the two hospitals and $14 million for the land It also is negotiating with creditors and lenders to repagy millions in loans over the next four St. Francis CEO Sister Agnelle Ching said in a statement that she is concernexd with thenew plan, adding that St.
Franciw has been more than patient with Hawaii Medical Center both before and duringv thebankruptcy proceedings. “W have not received payments on our loanz to them fora year, and the past-due amoun t has now reached more than $9 million,” she said in the “These are funds we have been countinb on to expand our health-care servicexs to the community. Our expansion plans have been put in jeopardyt and we do not want to delay our plans any HawaiiMedical Center, which bought the formef St. Francis hospitals in January 2007for $67.9 filed for Chapter 11 bankruptcy protection in U.S. Bankruptcgy Court last Aug.
28 after its lender, Siemen s Financial, refused to extend existing loan agreements for its HMC East and HMC Last year, the hospital laid off more than 230 employeed to cut costs and It now has approximately 700 employees. Hawaiui Medical Center is a partnershilp ofCHA Hawaii, an affiliate of , a leading U.S. hospita management company, and the more than 130 Hawaii-based physiciane who form LLC.
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