Bioscience

Arizona Heart Institute files for Chapter 11

August 3, 2010

By Flinn Foundation

[Source: The Arizona Republic] – Arizona Heart Institute has filed for bankruptcy protection and proposes selling its assets to Vanguard Health Systems in a deal valued at nearly $6.1 million.

The Heart Institute, a physician-owned group founded by cardiovascular surgeon Edward Diethrich in 1971, cited the turbulent economy and a general decline in reimbursements from government and private insurers as financial pressures in its Chapter 11 bankruptcy filing.

For more information: Arizona Heart Institute files for Chapter 11