Louisiana Heart Hospital Hits Ch. 11 After Major Expansion

Law360, Wilmington (January 31, 2017, 4:13 PM EST) -- Louisiana Medical Center and Heart Hospital LLC and several affiliates filed for Chapter 11 protection late Monday in Delaware, seeking a bankruptcy sale after failing to generate enough revenue to sustain a $40 million expansion in 2009 that more than tripled its patient capacity.

In papers filed in Delaware bankruptcy court, Louisiana Medical Center listed more than $130 million in debt, much of it owed to Cardiovascular Care Group Inc. to help fund an expansion the hospital hoped would be able to keep up with the growing population in the suburban North Shore of the New Orleans area as people left the...

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