AHERF files for Chapter 11. Action may precede sale of nine hospitals to Vanguard.
Allegheny Health, Education and Research Foundation, one of the nation's brashest not-for-profit health systems, last week filed for Chapter 11 bankruptcy protection. The last-ditch move will allow Pittsburgh-based AHERF, which is $1.3 billion in debt, to restructure money-losing operations and pave the way for the sale of its nine Philadelphia-area hospitals. But the repercussions of the filing will be felt well beyond the state of Pennsylvania.
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D016361:Bankruptcy; D006788:Hospitals, Voluntary / Q000191:economics; D009096:Multi-Institutional Systems / Q000191:economics*; D010414:Pennsylvania