For the past several months, talks between officials from Tyrone Hospital and Altoona Regional Health System have commenced exploring the possibility of several different partnership options between the two health care facilities.
Wednesday afternoon, officials from Altoona Regional Health System announced their decision concerning a possible partnership with Tyrone Hospital.
After much discussion and research, Altoona Regional Health System has determined that it was not in their best interest to pursue any type of partnership with Tyrone Hospital.
“We regret that we could not find a realistic way to collaborate in Tyrone. Based on the projected patient activity available to support the investment required to upgrade the current facility and establish a center of excellence, it was determined that the project was not feasible,” Altoona Regional Health System CEO Jim Barner said. “Altoona Regional is not pursuing any further integration options, but will offer any operational support as Tyrone Hospital plans to work out of its bankruptcy situation.”
Tyrone Hospital has been dealing with Chapter 11 bankruptcy issues for months and was granted an extension until August to file a reorganization plan in federal bankruptcy court. If Tyrone Hospital does not file a plan for reorganization under Chapter 11, they would risk falling under Chapter 7 bankruptcy, which would force the corporation to liquidate its assets.
Tyrone Hospital has developed a reorganization plan and has submitted it to the courts awaiting a response. Hospital officials are looking forward to hearing the court’s response.
