The UMC Hospital at Toronto’s West York Centre could close by the end of the year, the hospital’s owner has said.
In an interview with the CBC’s Toronto Morning, CEO David Johnson said he was hopeful about the hospital being able to stay open as long as possible, but that “there are a lot of things that we need to be doing.”
The Toronto-based hospital is one of several in the GTA to face the prospect of a budget crisis and financial hardship over the coming months, as the province and city wrestle with the costs of a $2.4-billion overhaul.
The hospital, which opened in 1997, has operated on an operating budget of just over $2 million for the past six years.
Its operating deficit has been the biggest contributor to the city’s fiscal crisis.
In its latest financial statements, the provincial and federal governments have pledged an additional $3.4 billion in funding over five years to the hospital.
In a statement, the UMC said the financial pressures at the hospital have been exacerbated by the economic downturn, but it said the company’s outlook is not currently strong.
It also said the “major challenges facing the hospital and its workforce have not been fully addressed.”
Johnson, who took over as CEO of the hospital in August, said the hospital will “continue to invest aggressively” to maintain its position in Toronto.
“We’ve had to do a lot with the downturn in the economy,” Johnson said.
“But the bottom line is we have to keep going.”
“We are still a strong institution in the world of health care.
We’ve done very well over the last five years.”
Toronto’s Mayor Rob Ford and the provincial government have both pledged an increase in health care funding.