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EL PASO, Texas (AP) — A judge has approved a plan for El Paso Children's Hospital to emerge from bankruptcy nearly seven months after filing for reorganization.
U.S. Bankruptcy Judge Christopher Mott says his ruling Tuesday enables the pediatric hospital to survive.
The reorganization plan also involves University Medical Center of El Paso. El Paso Children's Hospital, which opened in 2012, will retain its independence as a nonprofit. UMC will be the "sole corporate member" of the pediatric organization.
El Paso Children's Hospital had alleged UMC overcharged it millions of dollars in services and rent. UMC agreed to forgive $58 million in debt, much of it unpaid rent, and reduce future rental prices.
The reorganization plan takes effect next month.
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