Big Bend Regional Medical Center's Parent Company Files For Bankruptcy, Hospital Remains Open
By Marfa Public Radio
Quorum Health Corp. — which owns Alpine's Big Bend Regional Medical Center, including 22 other hospitals across the country — announced on Tuesday that they've filed for Chapter 11 bankruptcy.
The news of the company's bankruptcy comes as hospitals across the state are being heavily impacted by the coronavirus pandemic. In a press release, local hospital officials say operations are "unaffected by this restructuring" and BBRMC will remain open and continue to provide care for patients.
"This decision comes at a critical time when all hospitals are facing unprecedented challenges related to the coronavirus pandemic," said BBRMC's Chief Executive Officer Rick Flores in a press release. "This is an important step toward long-term financial stability and will ensure that our hospital has the resources and cash flow needed to address the COVID-19 crisis and continue caring for patients and the community."
Despite filing for bankruptcy, Big Bend Regional Medical Center says staff will continue to be paid and receive benefits. It's unclear, however, if any of the employees at BBRMC will be furloughed during this process. Marfa Public Radio has reached out to the hospital's leadership for comment but has yet to hear back.
According to Quorum Health, the restructuring support agreement they've entered will allow them to reduce their debt by $500 million.
The Tennessee-based company expects the financial reorganization to be complete "within two months."