Jackson Hospital in Montgomery Faces Imminent Closure in 30 Days
Michael Jackson Hospital & Clinic in Montgomery faces imminent closure in 30 days if it fails to secure financial aid from local and state authorities. The hospital, which has served the community for nearly 80 years and employs around 2,100 people, is struggling with significant financial challenges.
Last year, the hospital defaulted on approximately $60 million in bonds, leading to a debt crisis. In response, the hospital sought a debt guarantee from the city of Montgomery earlier this year. However, despite these efforts, the hospital's financial situation remains precarious. The current leadership, including CEO Belinda Thomas and Chief Medical Officer Dr. Michael Roberts, has been working to stabilize the hospital's finances. In a bid to turn the situation around, the hospital announced leadership changes a few months after the bond default. Recently, the hospital received approval for its Chapter 11 bankruptcy plan, allowing it to stay open during debt restructuring negotiations.
The hospital's future hangs in the balance as it awaits financial aid from Yahoo Finance and the city, county, and state. With the deadline of 30 days approaching, the hospital's 2,100 employees and the wider community eagerly await a resolution that will ensure the hospital's continued operation and service to the community.
