Struggling healthcare company files for Chapter 11 bankruptcy
Healthcare company, serving large healthcare systems, hospital laboratories, and academic medical centers, files for bankruptcy.
The healthcare sector has faced financial distress over the last year from a variety of economic problems including lingering effects of the Covid-19 pandemic, fierce competition, high indebtedness, rising interest rates, and rising costs driven by inflation.
Biotechnology firms, hospitals, and diagnostic companies have all encountered financial distress that has led to restructurings and bankruptcy filings.
