Pacifica Hospital of the Valley, has filed for Chapter 11 bankruptcy protection, the Daily News of Los Angeles has reported. Court documents reveal that the 221-bed facility in Sun Valley listed $50 million in debt, a result of rising expenses and declining revenues, according to the Daily News. Medi-Cal gives the for-profit Pacifica 60 percent of its funding, while Medicare contributes 20 percent. With the bankruptcy filing, the hospital seeks to reorganize.
