One of the Largest Employers in the Region Makes Drastic Cuts
By the end of August, as many as 263 employees of Liberty Medical Supply, Inc. will be out of a job as an undisclosed buyer of the company takes over operations.
While we don’t know exactly how many will be cut and how many may be kept on as temporary or full-time transition workers, things are grim for the workers at Liberty Medical at the moment.
The company is a provider of healthcare products primarily intended for diabetes patients, and the layoffs come as the company ownership swaps hands.
Liberty had fallen on some tough times in recent years, with the company filing for Chapter 11 bankruptcy in February 2013. It has since moved locations and cut 475 employees in 2015 in an effort to balance the budget, but it appears that after this final sale, those initial layoffs were not sufficient enough to balance the company’s budget.
More Struggles Ahead for Clinics Across U.S.
This comes as several other health clinics across the country face tough times ahead.
Summa Health System in Akron, Ohio also faced similar financial distress and was pushed to cut around 300 jobs after a projected loss of $60.0 million. And that’s just the start for the Ohio health clinic.
One of the biggest problems for these clinics operating in smaller towns, cities, and regions is the economic impact they have for the area. Being large employers and generally having a good number of quality jobs available, losing these companies or jobs being shed are all likely to have dramatic economic impacts on the surrounding areas, both for the cities and towns they operate in, as well as the residents.
All of this coming at a time when healthcare has never been more uncertain in the U.S. A bill is currently in the Senate that would replace the Affordable Care Act and change how healthcare is dealt with across the country. Medicaid expansion, for instance, is on the chopping block, as too is the public mandate. All of which will have profound impacts on the medical business going forward.
“Liberty Medical in Port St. Lucie to lay off 263 employees,” TC Palm, June 29, 2017.