From Senior Housing News
by Mary Kate Nelson
The number of health care companies that filed for Chapter 11 bankruptcy jumped to a record high in the second quarter of 2016—and the financial downfall of some senior living organizations played a part.
“It’s one thing to say that the distress in the second quarter of 2016 is the highest it’s ever been, but these numbers also mean that the past year is the highest it’s ever been,” Jeremy Johnson, a restructuring attorney in the New York office of Kansas City, Missouri-based firm Polsinelli, told Senior Housing News. The firm recently published the Healthcare Services Distress Research Index for the second quarter of 2016.
The Index reflects Chapter 11 filings amongst health care companies, including hospice agencies, senior care communities and hospitals, with assets of more than $1 million. The indices are based on independent data gathered and given to Polsinelli exclusively by the TrollerBK.com bankruptcy service.
To view the rest of the article, click here.