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Downturn may send public hospitals into bankruptcy

Wall Street Journal, May 8, 2009

The economic downturn will force more municipalities to make the tough political call of shedding financially draining public hospitals, possibly through a bankruptcy filing, according to healthcare restructuring expert George Pillari. Pillari, a managing director at restructuring firm Alvarez & Marsal, said publicly funded hospitals have been a key contributor to huge financial losses that cities and counties around the U.S. have been experiencing.