The Chapter 11 bankruptcy proceedings of private equity-funded Prospect Medical Holdings (PMH), the parent company of three Connecticut community hospitals, kicked off Tuesday in the U.S. Bankruptcy Court for the Northern District of Texas.
Deborah Weymouth, president and CEO of Manchester Memorial Hospital, Rockville General Hospital, and Waterbury Hospital, is expected to tap into the hospitals’ own funds to finance their functioning during the bankruptcy process.
Until now, local management did not have direct access to those funds…