Huge healthcare firm files for Chapter 7 liquidation
The physician staffing firm ceased operations and is winding down its business, which served about 35 hospitals nationwide.
The healthcare sector has faced economic distress in recent years, leading hospital chains, healthcare providers, and other medical-related firms to seek out-of-court restructurings, bankruptcy filings, and sometimes shut down operations.
The reasons for financial distress in the industry include capital constraints, cost increases and labor shortages, healthcare regulatory changes, issues with payments from commercial and managed care payors, and other macroeconomic challenges.
