Heywood Healthcare to Emerge Independent by Summer
Heywood Healthcare will remain independent according to a Press Release announcing its filing to Exit Chapter 11 (Filing occurred just before midnight on May 28, 2024). Heywood has expanded services since its inception over a century ago in 1907. Now, Heywood Healthcare has taken a major step towards providing excellent patient care for the next century. Heywood will officially emerge from Chapter 11 upon court approval of this latest filing, CLICK HERE. which is expected in early to mid summer. In a Press Release received by Gardner Magazine, – CLICK HERE FOR COMPLETE PRESS RELEASE – Heywood Healthcare stated, “In the nearly 8 months since the filing, the system has optimized multiple service lines, re-opened its inpatient mental health unit, and experienced growth in inpatient, surgical, and ambulatory volume, including a 16% increase in labor and delivery. Equally critical to its success, the system retained and expanded the medical staff.” The final status of the Surgical Pavilion will be addressed at a later date. This Exit Plan as an independent community-governed Healthcare System envisions a continuation of its programs and services to meet the needs of the community.
The plan articulates the system’s readiness to emerge independently. Rozanna Penney, President and CEO states,” Heywood Healthcare’s progress is attributed to its dedicated medical staff and employees, along with strong financial and operational prudence. We will proceed thoughtfully and planfully, maintain focus on patient care, and continue to forecast potential risks. The board and leadership team extend our gratitude for the steadfast support of our federal, state, and local representatives, as well as our appreciation for the patients who continue to choose Heywood Healthcare.”
The Press Release also addressed the initial filing stating, “On October 1, 2023, the Heywood Healthcare system filed for protection under Chapter 11 of the bankruptcy code. This deliberate and strategic approach allowed the system to address numerous historic contractual agreements swiftly, seek commercial rate enhancements, reorganize its finances, and focus on service optimization.”
For all of the filings in this case visit this official court website, CLICK HERE. For the latest filing on pdf, CLICK HERE. OFFICIAL PRESS RELEASE, CLICK HERE.
Gardner Mayor Michael Nicholson commented on the news. Listen on any device. CLICK PLAY.
Mayor Nicholson stated, “For more than a century, Heywood Hospital has been providing quality health care services to the residents of the City of Gardner and the surrounding region in North Central Massachusetts and the North Quabbin region. I’m very happy and excited to hear the latest good news coming from Heywood Hospital about the process to exit the bankruptcy process as an independent health care organization. I’m sure they will succeed in their efforts and continue to strive as they move forward. In the over 100 years that Heywood Hospital has been servicing our area, they’ve met countless challenges along the way, but they’ve come out stronger each and every time those challenges have arisen. I’d like to thank President Rozanna Penney and the staff of Heywood Health Care for the continued support and dedication to the residents who live here in providing quality health care services to those who call this place their home. Congratulations on making it to this point and I look forward to your continued partnership in the future. Thank you.“