LACONIA — Drawing on a lesson from his mother, Henry Lipman, told the nearly 100 people gathered at the Beane Conference Center for the annual meeting of LRGHealthcare this week that "Nothing is as good or as bad as it seems."
It fell to Lipman, senior vice president of financial strategy and external relations, to present the financial report, which featured a $27.3 million decrease in the consolidated financial position of the organization, leaving a deficit of $29.9 million for the 2015 fiscal year ending on Sept. 30.
The not-for-profit company owns and operates Lakes Region General Hospital in Laconia and Franklin Regional Hospital, as well as the Laconia Clinic and other medical offices.
In March, LRGH signaled the gravity of its financial troubles by laying off 58 full-time employees after eliminating another 80 through attrition in the months before. Approximately a quarter of the layoffs were at Franklin Regional Hospital and the balance at Lakes Region General Hospital. The layoffs followed a regular weekly review of staffing begun in January to consider whether to fill any vacancies that arise as well as any requests for new positions or additional personnel.