California Hospital Exits Bankruptcy with Sale of $11M in Bonds

Palm Drive Hospital in Sebastopol, Calif., exited bankruptcy on Wednesday with the sale of $11 million in bonds to pay off creditors and plan improvements, according to a report by the Santa Rosa Press Democrat.

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The 37-bed hospital filed for bankruptcy after incurring a $6 million operating loss three years ago.

Read the Santa Rosa Press Democrat’s report on Palm Drive Hospital.

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