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Leaders of Miami-based Jackson Health System warn of insolvency without county loan

Miami Herald, March 10, 2010

Miami-based Jackson Health System is close to insolvency and facing the specter of having one of its major vendors shut off supplies unless the company receives a $1 million payment this week. Unless Miami-Dade County advances Jackson $67 million, interim Chief Financial Officer Christopher Bayer said, the institution would be down to 1.5 days cash on hand by April 5. That means the institution would need to stop paying its bills this month and through April, the Miami Herald reports.