AHERF losses soared at end of year
Article Abstract:
Allegheny Health Education and Research Foundation and its bankrupt Philadelphia, PA, area affiliates posted approximately $384.8 million in losses in fiscal year that ended in June 1998. The losses include $200 million in one-time charges for retrenchments and other reorganization steps adopted to avoid bankruptcy. Local hospitals of AHERF such as Forbes Health System, Allegheny General and North Side flagship were not part of the bankruptcy filing. Five suburban Philadelphia hospitals called the Delaware Valley and hospitals affiliated with AHERF's medical school, Allegheny University of the Health Sciences, generated the biggest estimated loss of $126.3 million.
Comment:
PA: Allegheny Health Education & Research Foundation & bankrupt Philadelphia area affiliates post around $384.8 mil losses
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Workers, mansion both to go
Article Abstract:
Allegheny Health Education and Research Foundation (AHERF), parent of Allegheny General Hospital, laid off 26 administrative support workers, 20 of which in the finance department and the rest in communications. The layoffs are the latest after AHERF cut 96 jobs when it shutdown an office at Foster Plaza that provided hospital case-management services to managed care insurer HealthAmerica. AHERF has retrenched 122 workers from its regional payroll of about 2,000 since it and its Eastern Pennsylvania subsidiaries filed for Chapter 11 bankruptcy a month ago.
Comment:
PA: Allegheny Health Education & Research Foundation lays off 26 administrative support workers
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
Tennessee firm may buy AHERF hospitals in Phila
Article Abstract:
Nashville, TN-based Vanguard Health System Inc., an expanding hospital operator and owner, may have an agreement to purchase Allegheny Health Education and Research Foundation's eight hospitals in the Philadelphia, PA, region. Allegheny Health Education and Research Foundation, a bankrupt health-care organization, was reportedly studying its options on the proposed sale of its troubled hospitals in Philadelphia, even though it was scheduled to announce in Jul. 31, 1998, a deal to sell the hospitals to Vanguard Health System.
Comment:
May have a deal to purchase Allegheny Health Education & Research Foundation's 8 hospitals in the Philadelphia, PA, region
Publication Name: Pittsburgh Post-Gazette (PA)
Subject: Business, regional
ISSN:
Year: 1998
User Contributions:
Comment about this article or add new information about this topic:
- Abstracts: A warehouse club for gas and power. More confusion on electric competition
- Abstracts: DQE ends Allegheny Energy merger. Allegheny Power gets better deal from PUC. Reshuffling at top of DQE shows change in direction
- Abstracts: Allegheny creditors make an accounting of potential losses. Panel says care ok at unit of Allegheny. The fate of Allegheny hospital awaits an auction; going, going ... gone in 9 days