Monroe Hospital in Bloomington in this 2012 file photo. The hospital has filed for bankruptcy. Chris Howell | Herald-Times
Bloomington’s Monroe Hospital has filed for Chapter 11 bankruptcy and plans to sell its business to a California hospital operator. The bankruptcy, filed in federal court in Indianapolis, said the 32-bed hospital had more than twice as many liabilities as assets, and has been losing money due to low patient volume.
“Since its beginning, Monroe Hospital has struggled financially, so the board made the best decision possible from a business standpoint,” said Joe Roche, Monroe Hospital’s CEO. “This will put the hospital on solid financial footing, and is in the best interest of the hospital, its employees and the patients we take care of. It was the right thing to do.”
Roche said none of the more than 300 hospital employees will lose their jobs as a result of the reorganization, and he wants to assure patients that the hospital is still open and providing a full range of services.
Roche is still the hospital’s CEO, but since the end of July — when Monroe Hospital entered into an agreement with Prime Healthcare to manage the day-to-day operations of the hospital — his primary responsibility has been working with attorneys in bankruptcy court.
Roche said Prime Healthcare Services, based in Ontario, Calif., has made it clear it wants to eventually buy Monroe Hospital.
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