The Florida acute hospital operator Landmark Holdings-files for bankruptcy protection

Naples resident Landmark Holdings of Florida, which has long -term acute hospitals and operates, has applied for bankruptcy protection in Chapter 11.

Landmark owns and operates five hospitals in Georgia and Missouri. It also operates the Landmark Hospital of Southwest Florida in Lehigh Acres.

According to the submission of the US insolvency court for the Middle District of Florida, Fort Myers, the landmark is not to be closed.

“It is important that Landmark has sufficient cash to finance the ongoing business activities of the hospitals to ensure that their patients continue access to intensive care,” said the company.

The hospitals offer patients who require a higher level of care over a longer period of time, critical care than a typical hospital can offer. After their stay, patients usually dismiss in rehabilitation, specialist or home locations.

The landmark quoted in the years after the beginning of the Covid 19 pandemic at high costs and the “platauging” limit rates. The company said that some of its hospitals were “influenced more by these developments due to geography and patient mixture”.

Landmark Leasing Each of its hospitals from one of two real estate investment lines through a master rental agreement.

Landmark employs around 625 workers, 340 full -time.

According to the submission, Melmmark generated sales of $ 79.4 million for the financial year, which ended on December 31, 2023.

“Landmark found that in the best interest of all stakeholders in accordance with Chapter 11, it requested protection to carry out a transfer of value and to maintain jobs and the continued availability of health services in the underground communities in which Landmark operates,” says the submission.