Pacifica Hospital Files Chapter 11

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.