.Primary health care company CareMax, which works 56 health care facilities throughout Florida, Texas, Tennessee and New york city, filed for Phase 11 personal bankruptcy in Texas on Sunday.The firm operates centers greatly for more mature patients.The Miami-based company noted financial debts of much more than $690 thousand as well as properties of $390 million, according to a declaring with the U.S. Insolvency Courtroom for the Northern Area of Texas obtained through USA TODAY Wednesday.In August, the firm submitted its own second-quarter results, featuring a loss of much more than $170 thousand as well as provided a going-concern warning.CareMax mentioned it was not going to be able to file a third-quarter record to the U.S. Securities as well as Exchange Payment as a result of an absence of funds, Wire service reported.Here’s what to know.What occurs with CareMax now?A news release Sunday, CareMax claimed it is intending to seek a sale for each its own administration companies as well as primary centers assets.
The provider additionally mentioned it is actually seeking to carry on ordinary operations in its own centers and also repayment of incomes to its own physicians and also nurses.CareMax has actually also tapped the services of Alvarez & Marsal as financial consultants and also Piper Sandler as an investment bank, depending on to the bankruptcy release.Other healthcare service providers dealing with bankruptcy this yearIn May, Massachusetts-based Steward Medical applied for insolvency, looking for to offer each one of its 31 medical centers as well as $9 billion in debt. CEO Ralph de la Torre ran the gauntlet as he gathered much more than $100 thousand in settlement as well as acquired a $40 thousand luxury yacht while staff members at Steward health centers grumbled about a shortage of simple supplies, according to the Senate Committee on Health And Wellness, Education And Learning, Labor and also Pensions.In September, the board approved a resolution finding gracious administration and a criminal contempt cost coming from de Los Angeles Torre after he withstood a subpoena earlier that month.Contributing: Ken Alltucker, United States TODAY.Fernando Cervantes Jr. is a trending information reporter for U.S.A.
TODAY. Reach him at fernando.cervantes@gannett.com and follow him on X @fern_cerv_.