Weak Hospital Shuts Down

Closing Time

Updated Apr. 25, 2017 4:23PM EDT / Published Jan. 21, 2009 7:37AM EST

Jeffrey Katzenberg's Motion Pictures & Television Fund has announced it will close its hospital and acute care nursing home—which is currently serving 150 patients—by the end the year. The Woodland Hills, Calif., facility is said to have lost $10 million a year for the fund, and jeopardizes its financial health. Katzenberg, chairman of the MPTF Foundation, said the fund had "no choice" in the matter because the bad economy and high-cost critical care patients were causing its endowment to take a hit.

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Weak Hospital Shuts Down