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Tyrone Hospital receives extension to file reorganization plan

The deadline for Tyrone Hospital to file its disclosure statement and reorganization plan in bankruptcy court has been extended. The hospital missed its original deadline and has until August 2 to file this information with the U.S. bankruptcy court.
According to U.S. bankruptcy court, failure to file a disclosure statement and reorganization plan will show cause to determine why the case should be dismissed or converted from Chapter 11 bankruptcy to Chapter 7 bankruptcy.
Chapter 7 bankruptcy would result in the liquidation of Tyrone Hospital’s assets.
The new hearing is scheduled for August 9.
In January, Tyrone Hospital CEO Walter Van Dyke explained to the corporate membership that he and other hospital administrators were confident that the reorganization plan in which Tyrone Hospital would commence an affiliation with a larger health system was in the hospital’s best interest.
Last month, corporate members received information that after months of talks with Altoona Regional Health System, a proposed affiliation with Altoona Regional could possibly mean about $10 million invested into the hospital, which is in addition to upgrades to the facility, including additional operating rooms.