Illinois Gov. Pat Quinn says the state will provide emergency assistance that will allow Chicago's Roseland Community Hospital to remain open while it develops a turnaround plan.
In a statement Wednesday, Quinn said $350,000 in assistance comes with several conditions.
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Independent financial experts will review the hospital's budget, operations and finances. In addition, the hospital must pick an independent chief restructuring officer to oversee operations and implementation of long-term restructuring.
The governor's office says it's essential the facility located in an impoverished neighborhood remains open. Quinn's advisers met with Roseland executives for two months seeking information that would allow the state to offer aid. The information was received this week.
The hospital's board late Wednesday accepted the state aid and its conditions, and discarded announced plans to stop accepting patients.