Miami Medical Center wins access to $238,387 in additional financing

By Caroline Salls

Pittsburgh, Dec. 10 – Miami International Medical Center, LLC, which does business as Miami Medical Center, obtained final court approval to access $238,387 in additional debtor-in-possession financing, according to an order filed Friday with the U.S. Bankruptcy Court for the Southern District of Florida.

As previously reported, Miami Medical said the additional financing is needed to fund expenses incurred in September and October, including payment of professionals and staff, a quarterly payment to the U.S. Trustee’s Office and fees necessary to maintain the medical center’s license while it seeks confirmation of its Chapter 11 plan and the closing of the sale of its assets.

“There have been delays surrounding the closing of the sale and reaching consensus with the [official committee of unsecured creditors] on the terms of its plan,” the medical center said in the motion.

“The sale has not yet closed, and the plan has not yet been confirmed. However, substantial progress has been made.”

The Miami-based medical center filed bankruptcy on March 9 under Chapter 11 case number 18-12741.

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