Astria Health is a local – but smaller – post-bankruptcy organization | Astria

Astria Health is a local - but smaller - post-bankruptcy organization |  Astria

Astria Health’s exit from bankruptcy protection was unusual, said Sam Maizel, a Los Angeles-based attorney who represented Astria Health during its bankruptcy. He has represented many failing hospitals and healthcare systems over the years.

A hospital bankruptcy usually ends with the purchase of the hospital or health system by a larger entity or results in closure.

This third route – a larger health care provider stepping in to lend tens of millions to allow another provider to pay off the larger secured creditor – is far from typical.

Just days before a hearing on Astria’s reorganization plan, MultiCare Health System, a Tacoma-based nonprofit healthcare system with 10 hospitals statewide, approached the Sunnyside-based company …

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