.Primary medical care service provider CareMax, which works 56 health care facilities around Florida, Texas, Tennessee and New York, applied for Section 11 insolvency in Texas on Sunday.The company works facilities greatly for older patients.The Miami-based company detailed personal debts of more than $690 thousand and also assets of $390 thousand, according to a declaring along with the united state Insolvency Courthouse for the Northern Area of Texas secured by U.S.A. TODAY Wednesday.In August, the business posted its own second-quarter results, including a loss of greater than $170 thousand and also gave out a going-concern warning.CareMax mentioned it was actually certainly not visiting manage to submit a third-quarter report to the U.S. Securities as well as Swap Commission due to an absence of funds, News agency reported.Here’s what to know.What accompanies CareMax now?A news release Sunday, CareMax claimed it is organizing to seek a sale for each its administration solutions and primary centers possessions.
The business additionally mentioned it is actually finding to carry on typical operations in its facilities as well as settlement of salaries to its own physicians and also nurses.CareMax has actually additionally employed Alvarez & Marsal as financial agents and also Piper Sandler as a financial investment banker, according to the bankruptcy release.Other medical care service providers experiencing personal bankruptcy this yearIn May, Massachusetts-based Steward Medical declared personal bankruptcy, looking for to sell all of its 31 medical facilities and $9 billion in the red. Chief executive officer Ralph de la Torre faced criticism as he picked up much more than $one hundred thousand in payment and got a $40 million yacht while staff members at Steward medical facilities complained regarding an absence of standard products, depending on to the Us senate Committee on Health And Wellness, Learning, Work Force as well as Pensions.In September, the board accepted a settlement seeking cordial administration as well as a criminal mockery cost coming from de la Torre after he resisted a court order previously that month.Contributing: Ken Alltucker, U.S.A. TODAY.Fernando Cervantes Jr.
is a trending headlines media reporter for U.S.A. TODAY. Reach him at fernando.cervantes@gannett.com and follow him on X @fern_cerv_.