PROVIDENCE, R.I. (WPRI) — Thundermist Health Center won’t miss payroll next week and is no longer facing imminent threat of closure after the health care provider successfully secured $9.5 million over the past few weeks from insurers, hospitals and state and federal taxpayers.
Thundermist, a Woonsocket-based federal health center that serves some of Rhode Island’s poorest residents, has been facing a financial crisis that’s put it at risk of going into receivership, laying off hundreds and ending care for 62,000 people.
But interim CEO Maria Montanaro, who was rehired to turn the nonprofit around, said outside entities have stepped up with loans, grants, advanced payments and public funds to help Thundermist “no longer be living paycheck-to-paycheck.” Earlier this month, she had told Target 12 the nonprofit didn’t have enough cash on hand to make payroll by next week.
BACKGROUND: On brink of bankruptcy, Thundermist seeks $8 million bailout
“We are no longer at risk of closing,” Montanaro said Friday, praising the different groups for stepping in to help them out of their immediate financial problems. She said they now have enough cash to ensure they can make payroll for at least the rest of their fiscal year, which ends next summer.