ER Operator Adeptus Files Ch. 11, Seeks PE Takeover

Law360, New York (April 20, 2017, 6:23 PM EDT) -- Emergency room company Adeptus Health Inc. and 139 affiliates, mostly individual medical centers, filed for Chapter 11 bankruptcy in Texas on Wednesday with $454 million in debt and a plan to be taken over by private equity firm Deerfield Management Co.

The company, which also listed $799 million in assets, had $213 million of its senior debt bought out by Deerfield — already a minority stakeholder, alongside many other private equity companies — in early April.

Adeptus runs what are called freestanding emergency rooms, some independent...
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