Parkway cleared to exit bankruptcy

The New Parkway Hospital, located at 75-35 113th Street in Forest Hills, announced that Judge Prudence Carter Beatty of the United States Bankruptcy Court of the Southern District of New York has confirmed the hospital’s bankruptcy exit plan.
“We are very delighted by this outcome,” said Robert J. Aquino, MD, the President and CEO of The New Parkway Hospital. “We emerge from this struggle a stronger institution. We want to thank your employees, staff and physicians for having faith in the hospital’s future.”
Fred Stewart, the Vice President of Marketing and New Business Development at Parkway, said that as far as the court is concerned the hospital is on “firm financial footing.” He added that the hospital had satisfied the demands of its creditors and that New York State made no objections over its plans.
“It (the confirmation) means that, barring any unforeseen circumstances, we should be exiting bankruptcy within the next 30 days,” said Stewart, who added that one of the key factors in bringing the hospital out of bankruptcy was efficient management.
As the hospital looks towards the future, it has many plans for further development. Among them are a new radiology department, a cardiac wellness program, a bone and joint center, liver center and possibly a cancer center.
“We’re very excited about moving forward,” Stewart said. “It will allow us to move ahead with a lot of our plans and improvements and enhancements to the hospital.”