- Associated Press - Friday, July 14, 2017

EDEN, N.C. (AP) - Leaders of a rural hospital in North Carolina are citing competition with larger hospitals and a lack of Medicaid expansion as reasons for filing for bankruptcy.

Multiple media outlets report Morehead Memorial Hospital in Eden filed earlier this week for Chapter 11 bankruptcy as it tries to reorganize its finances.

Hospital leaders say the competition with larger hospitals has led to a decline in the number of patients it treats.

In addition, Morehead President and Chief Operating Officer Dana Weston says Medicaid reimbursements have declined. State lawmakers voted not to expand Medicaid under the Affordable Care Act.

Novant Health Inc. manages the hospital, which remains open. The hospital says no employees are facing a job cut and the management team will stay in place.

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