Chicago medical center, heading for closure, files for Chapter 11
Chicago-based Michael Reese Medical Center, in the process of shutting down its healthcare operations, has filed for Chapter 11 bankruptcy protection in a move the facility's executives say will allow its financial situation to stabilize as the operation winds down in the coming months. The closing of the facility has been in the works for months. It has faced tens of millions of dollars in losses and a series of challenges including ownership changes, competition from rival facilities, and a rising number of uninsured patients who cannot pay their bills.
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