Friday, March 11, 2005
Still More Fall-Out from the Bankruptcy of Allegheny: Womens' Medical Center to Close
The fallout from the bankruptcy of Allegheny Health Education and Research Foundation (AHERF) continues even now. The Philadelphia Inquirer reported that Women's Medical Center, formerly part of AHERF, formerly Medical College of Pennsylvania Hospital, is closing. Although some would argue that the hospital was already in trouble when Allegheny acquired it in 1988, there is at least an argument that mismanagement by AHERF, and then the catastropic bankruptcy of AHERF in 1998, the second largest bankruptcy of any kind in the country at that time, were also partially responsible for the end of the hospital. The hospital was originally part of Female Medical College, the first medical school for women in the US, founded in 1850.