Wellpath Holdings Inc., one of the largest providers of healthcare services to prisons and jails across the U.S., has filed bankruptcy after failing to meet its debt obligations while grappling with high labor costs. The H.I.G. Capital-backed firm, which filed for Chapter 11 in the U.S. Bankruptcy Court for the Southern District of Texas, listed assets and liabilities between $1 billion to $10 billion each. In a separate statement, Wellpath said it has secured a $522 million debtor-in-possession financing facility from some lenders and plans to sell some businesses.
