Healthcare & hospital bankruptcies (2024–2026)

Hospital and health-system bankruptcies ran at multi-year highs into 2025–2026. A recurring pattern sits behind many of them: private-equity ownership that extracted cash and left balance sheets hollow, colliding with Medicaid pressure and rising labor costs. Prospect Medical and Steward Health Care are the largest examples, and a wave of rural-hospital closures followed. Below are the filings on the public record.

2 companies on the list · updated continuously

CompanyStateFiledWhat happened

Prospect Medical Holdings, Inc.CA2025-01-1116 hospitals across CA/CT/PA/RI, $1B–$10B liabilities (N.D. Texas)Steward Health Care System LLCTX2024-05-06~30 hospitals, one of the largest hospital bankruptcies on record

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Drawn from public filings and reporting. Inclusion reflects a documented bankruptcy filing and is not a statement about any company's current operations. Not financial advice.