Medical Services Co. Enters Ch. 11, Citing Medicare Woes

Law360, Wilmington (June 17, 2013, 4:55 PM EDT) -- Medical business management firm OnCure Holdings Inc., along with more than 20 affiliates, filed for Chapter 11 protection Friday, saying the companies took a significant revenue hit and ran into debt trouble after reimbursements from Medicare dropped.

OnCure, which provides administrative services and medical equipment and facilities to radiation oncology physician groups, filed its petition in the Delaware bankruptcy court, saying the company saw its net revenues go down from $103 million in 2011 to $94 million in 2012.

By January, the group's Medicare reimbursements for...
To view the full article, register now.
Law360 Pro Say Podcast
Check out Law360's new podcast, Pro Say, which offers a weekly recap of both the biggest stories and hidden gems from the world of law.