LifeCare files for Ch. 11 bankruptcy protection

The Seattle Times / Associated Press, December 12, 2012
Overwhelmed with $576 million in debt, hospital operator LifeCare has filed for Chapter 11 bankruptcy protection, and plans to sell itself. The Plano, Texas, chain runs 27 long-term hospitals Texas, Pennsylvania, and eight other states. It said it will continue to do business and pay its employees through the bankruptcy process. The company, which was acquired by private equity firm Carlyle Group LP in 2005, said it has agreed to be bought by a group of its senior secured lenders, but hopes to see what results from an auction supervised by the bankruptcy court.

MOST POPULAR

SPONSORED REPORTS
SPONSORED HEADLINES

SIGN UP

FREE e-Newsletters Join the Council Subscribe to HL magazine

SPONSORSHIP & ADVERTISING

100 Winners Circle Suite 300
Brentwood, TN 37027

800-727-5257

About | Advertise | Terms of Use | Privacy Policy | Reprints/Permissions | Contact
© HealthLeaders Media 2014 a division of BLR All rights reserved.