This was published 7 months ago
One of Brisbane’s leading psychiatric hospitals has entered voluntary administration amid a funding crisis that threatens the viability of private hospitals nationwide.
Toowong Private Hospital has provided crucial in-patient and out-patient psychiatric care to Queenslanders for more than four decades, but it’s now at risk of closure.
The family-owned hospital last week appointed accounting firm EY as administrators after “unsuccessful attempts to explore a sale in recent months”.
In a statement, administrator David Kennedy said EY was committed to ensuring the hospital continued to operate on a business-as-usual basis, “whilst a decision can be made regarding the future of the operations”.
“We understand the challenges the company has faced, particularly in the trading environment since the COVID-19 pandemic, and we are undertaking an urgent financial and operational assessment of the company’s…