Lincoln Hospital Emerges From Bankruptcy
Penobscot Valley Hospital in Lincoln says it has emerged from Chapter 11 bankruptcy protection, and is now much more financially viable.
CEO Crystal Landry says it’s a relief that PVH will be able to continue to provide medical care during the pandemic.
“I think it’s just really important to note that now more than ever, health care is really critical — and that we’re very thankful that the community will continue to receive the high quality of hospital services that they expect,” she says. “We are the only hospital in this area and many of our patients travel upwards of 45 minutes just to reach PVH.”
PVH is a 25-bed critical access hospital, which means it’s a small hospital in an underserved area. She says the bankruptcy allowed the hospital to restructure debt it took on after the local mill closed in 2015, severely damaging the regional economy. Landry says the bankruptcy restructuring plan does not include layoffs.