@broadlineintel: Redeemer Health missed a bond payment due Sept. 1. The Philadelphia Inquirer reported the default on Oct. 7, 2026. Source: The Philadelphia Inquirer, Harold Brubaker, Oct. 7, 2026. https://www.inquirer.com/health/redeemer-health-bond-payment-default-20261007.html • Redeemer Health, the Montgomery County nonprofit that owns Holy Redeemer Medical Center in Abington Township, failed to make a bond payment due Sept. 1, according to a notice to municipal bondholders. • The system said it is working on “a reorganization of our hospital system to ensure its continued viability.” • Redeemer has posted operating losses every fiscal year from 2017 to 2025. Leaders have been working on and off to restructure or sell the system since 2022. • It has not yet posted results for the fiscal year that ended in June. In the nine months ended March 31, Redeemer had a $29 million operating loss on $332 million in revenue and $119 million of long-term debt. • Interim CEO Jim Logue, who replaced Greg Wozniak two weeks earlier, told employees: “Unfortunately, the choice was whether to continue our payments to bondholders (overwhelmingly large financial institutions) or continue to render services to those who needed help the most. We choose the latter.” • Logue said management is working with the bondholders’ agent and other parties, including surrounding health systems, “to determine the best path forward to ensure Redeemer continues to operate in the ordinary course.” • Former CFO Michael Keen is returning to that job, replacing Kim Cummings #newstiktok #healthcare #broadlinedaily #creatorsearchinsights #PhillyHealthcare

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Thursday 08 October 2026 20:58:50 GMT