ETIC To Support Hakuyuukai Medical Corp

The Enterprise Turnaround Initiative Corporation of Japan(ETIC), a government-backed turnaround body, announced that the ETIC has decided to provide support to Hakuyuukai Medical Corporation, an Osaka-based medical operator, by requesting financial institutions not to recover loans or exercise any other rights they may have as creditors. Hakuyuukai is a medical corporation that operates a general hospital, a nursing support service, a nursing home for the elderly and a special healthcare facility for suffers of dementia. Oversupply fo hospital beds in the region has made Hakuyuukai being financially troubled. With support from ETIC, Hakuyuukai implements the revitalization plan.