Question

1. Search the internet for news reports or articles about health care organizations ( filing chapter 11 reorganization (bankruptcy). Identify at least 2.

2. List the organizations you find. Write about the type of health care organization , the time of the filing, and after the filing.

3. Write about if they survived, merged, or failed.

4. Check the news or internet again to see if they are successful today or non existent today.

Answer 1

The healthcare organizations which recently filed for Chapter 11 bankruptcy

• Little River Healthcare in Rockdale, Texas
  • This organization, along with its parent company had filed for Chapter 11 bankruptcy last year on July 24. The organization’s liabilities had grown ahead of its assets and it had become quite difficult for the healthcare to maintain its services. The organization had shut down its healthcare and facilities for almost 2 months. Ascension Texas bought the assets of the organization and is trying to revive the same. It is too early now to comment on how the revival plan is faring for the organization.
• Lifecare Hospitals of San Antonio
  • The parent company of this healthcare, Hospital Acquisition LLC had filed for bankruptcy in the first half of 2019. The company is looking for buyers to sell the Lifecare range of Hospitals. The fundamental objective of filing Chapter 11 is to restructure the long standing debts of the company. the parent organization has not shut down operations of the hospitals under its kitty. However the organization is earnestly looking for new buyers who can revive the service delivery of such hospitals.