Prospect Medical Holdings, the owner of three struggling Connecticut hospitals in Waterbury, Manchester, and Vernon, is working with restructuring advisors to explore ways to address the company’s financial challenges, according to a report in The Wall Street Journal.
The hospitals, which Prospect acquired in 2016, have faced worsening financial and operational problems in recent years. In 2022, Connecticut-based Yale New Haven Health System reached a tentative agreement to purchase the three facilities for $435 million, but the deal has run into numerous delays — not least of which was a debilitating cyberattack in August 2023.
Representatives from Prospect Medical Holdings and its Connecticut hospitals did not respond to requests for comment regarding the reports about bankruptcy. The company hasn’t filed for bankruptcy, according to court records…