Hospital Prepares to Close Doors Due to Rough Economy

GAINESVILLE, FLA.

Shands AGH in Gainesville, Fla., will be closing its doors next fall due to tight credit, higher borrowing costs and investment losses. The 220-bed hospital will move its patients to a bigger teaching hospital nearby.

The hospital is closing in an effort to save $65 million over three years across the Shands Healthcare system, reported the Associated Press.

An uncertain economy has forced more hospital closures, including those in Newark, N.J., and upscale Beverly Hills, Calif. Layoffs, cost-cutting or delayed building projects are also affecting the U.S. healthcare system.

Industry consultants are projecting further closings and mergers in the near future.

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