.Major health care company CareMax, which operates 56 health care facilities around Florida, Texas, Tennessee and also New york city, filed for Chapter 11 insolvency in Texas on Sunday.The company functions centers mostly for much older patients.The Miami-based company specified personal debts of much more than $690 million as well as possessions of $390 million, depending on to a declaring with the united state Bankruptcy Courtroom for the Northern District of Texas acquired by United States TODAY Wednesday.In August, the company submitted its own second-quarter results, consisting of a reduction of more than $170 million and also provided a going-concern warning.CareMax stated it was not visiting manage to submit a third-quarter record to the U.S. Securities and also Substitution Percentage because of a lack of funds, Wire service reported.Here’s what to know.What accompanies CareMax now?A press release Sunday, CareMax said it is actually planning to work toward a purchase for each its own management services and also center centers properties. The firm likewise stated it is actually finding to continue regular procedures in its own clinics and also repayment of wages to its medical professionals and also nurses.CareMax has likewise employed Alvarez & Marsal as financial advisers and also Piper Sandler as an investment lender, according to the bankruptcy release.Other medical service providers dealing with bankruptcy this yearIn Might, Massachusetts-based Guardian Medical filed for personal bankruptcy, seeking to sell each one of its 31 medical facilities and $9 billion in the red.
CEO Ralph de la Torre faced criticism as he picked up more than $one hundred thousand in compensation and also got a $40 thousand luxury yacht while staff members at Steward health centers complained concerning a shortage of basic supplies, depending on to the Us senate Committee on Health, Learning, Work as well as Pensions.In September, the committee authorized a settlement looking for civil administration and also a criminal contempt fee from de la Torre after he stood up to a subpoena previously that month.Contributing: Ken Alltucker, U.S.A. TODAY.Fernando Cervantes Jr. is a trending headlines press reporter for United States TODAY.
Reach him at fernando.cervantes@gannett.com and also observe him on X @fern_cerv_.