Billionaire Soon-Shiong's Verity Health system declares bankruptcy

Hospitals that are part of Verity Health filed for bankruptcy protection on Friday. (Getty/Gam1983)

Hospitals that are part of Verity Health, an El Segundo, California-based nonprofit chain owned by billionaire Patrick Soon-Shiong, remains open after the system filed for Chapter 11 bankruptcy.

In a release, health system officials said they secured debtor-in-possession financing of up to $185 million "to enable continued operations without interruption to high-quality patient care, employees and suppliers throughout the Chapter 11 process." They also released a Q&A for patients on their website.

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