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Verity Health files for bankruptcy protection. Its six California hospitals will stay open
Los Angeles Times: Verity Health System, the nonprofit operator of six California hospitals, filed for bankruptcy protection Friday, blaming mounting losses and debt that had forced it to seek a buyer for some or all of the facilities.
The company said its six hospitals, including St. Vincent Medical Center in Los Angeles and St. Francis Medical Center in Lynwood, will stay open.
Last year, Nantworks, the Culver City company controlled by Dr. Patrick Soon-Shiong, bought Integrity Healthcare, the company that manages Verity. His goal was to revitalize the hospitals, many of which are in lower-income neighborhoods.
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