Astria Health requests more time for reorganization plan
YAKIMA, Wash. (AP) — A Washington state health care organization has requested additional time to file a reorganization plan to help efforts to emerge from bankruptcy protection.
The Yakima Herald-Republic reports that Astria Health filed a motion for a second extension Nov. 4 after being granted the first extension in September by the U.S. Bankruptcy Court for the Eastern Division of Washington.
A status conference is scheduled for Friday.
Company investment banker Piper Jaffray says Astria needed extra time to secure exit financing and if it couldn’t secure it then it would sell some or all its assets.
Officials say the organization exclusively would have until Jan. 31 upon request approval and would need creditor approval by March 31.
Astria operates three hospitals and a network of clinics in and around Yakima.
Information from: Yakima Herald-Republic, http://www.yakimaherald.com