MedLab Seeks Ch. 11 Amid Medicare Reimbursement Cuts

Law360, Wilmington (October 28, 2013, 8:56 PM ET) -- Laboratory Partners Inc., also known as MedLab, a group of about a half-dozen companies that provide clinical laboratory and anatomic pathology services, filed for Chapter 11 protection late Friday in Delaware, citing Medicare and other reimbursement reductions that cut into earnings and liquidity.

The company said in its filings it is hoping to restructure its $42 million in debt and sell some its assets, possibly in two bankruptcy auctions, but as of the petition date had not yet secured stalking horse deals.

The Cincinnati-based firms, with...
To view the full article, take a free trial now.
Try Law360 for free for seven days
Already a subscriber? Click here to login

Already have access?

  1. Forgot your password?
  2. Sign In

Get instant access to the one-stop news source for business lawyers