On Jan. 11, Prospect Medical Holdings, the owner of three hospitals in Connecticut, filed for Chapter 11 bankruptcy. Prospect’s filing listed debts of more than $400 million. The company hopes the bankruptcy process will allow it to expedite the sale of hospitals outside its home state, California, while stabilizing its financial footing.

The state will be monitoring the situation closely and intends to participate in court proceedings to the extent necessary to protect the interests of patients, employees

In CT, Prospect owns Waterbury Hospital and the Eastern Connecticut Health Network, which includes two hospitals in Manchester and Vernon. All three remain open.