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Prospect Medical Holdings, Inc.

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Case overview

Case Number:

8:25-bk-80002

Court:

Texas Northern

Nature of Suit:

Firms

Companies

Government Agencies

Sectors & Industries:

  1. July 08, 2025

    Prospect Medical Doctor Groups Hit Ch. 11 After Astrana Sale

    About two dozen physician practices linked to bankrupt healthcare company Prospect Medical have filed for Chapter 11 protection in Texas, days after Prospect sold some of the entities' assets to Astrana Health Inc. for $708 million.

  2. June 26, 2025

    Under The Radar: Bankruptcy News You May Have Missed

    The U.S. Trustee's Office opposed Prospect Medical's Chapter 11 plan disclosure on the grounds that the plan can't be confirmed because of its release provisions; hospital operator Steward Health Care's former captive insurer appealed a bankruptcy judge's decision to OK a settlement Steward struck with secured lenders; and Celsius Network asked a federal judge to let its lawsuit targeting blockchain analysis company Chainalysis Inc. continue.

  3. April 30, 2025

    Judge Rejects $5M Fee Bid In Prospect Medical's Ch. 11

    Bankruptcy Code provisions that allow creditors who make substantial contributions to be reimbursed for costs don't cover Prospect Medical's pre-Chapter 11 investment banker, a Texas bankruptcy judge said Wednesday, rejecting a finance firm's bid for a $5 million sale fee.

  4. April 28, 2025

    Imerys Ch. 11 Trial Abruptly Paused, Celsius Seeks Sanctions

    Talc producer Imerys is nearing Chapter 11 plan confirmation after a trial commenced; a plan administrator for Celsius moved to impose sanctions in another crypto firm’s bankruptcy; and Prospect Medical secured court approval to close two facilities.

  5. April 22, 2025

    Judge Approves Prospect Medical's Pa. Hospitals' Closure 

    A Texas bankruptcy judge on Tuesday approved Prospect Medical Holdings' request to close two Pennsylvania hospitals after the bankrupt operator was unable to secure another entity to run the hospitals despite support from government and community organizations to keep them open.

  6. April 10, 2025

    Prospect Medical Hospitals Get One More Reprieve In Ch. 11

    Hospital operator Prospect Medical has scored $6 million in financing to temporarily stave off the closure of three Pennsylvania hospitals, the debtor's counsel told a Texas bankruptcy judge Thursday.

  7. March 24, 2025

    Prospect Medical Scores $13M Funding Bump Amid Sale Talks

    Counsel for hospital operator Prospect Medical told a Texas bankruptcy judge Monday the debtor recently struck a deal to further finance the operation of its hospitals in Pennsylvania to the tune of $13 million, with the help of a nonprofit, as the parties continue negotiations.

  8. March 19, 2025

    Prospect Medical Gets Deal With MPT To Start Sale Process

    A Texas bankruptcy judge on Wednesday approved a settlement between hospital operator Prospect Medical Holdings Inc. and landlord Medical Properties Trust Inc. that allows the debtor to launch a sale process for its facilities in California and Connecticut and borrow $25 million to fix earthquake damage.

  9. March 17, 2025

    Yale Unit Questions Prospect Medical's Ch. 11 Sale Plan

    Yale New Haven Health Services Corp. is questioning whether bankrupt hospital owner Prospect Medical Holdings Inc.'s attempt to sell its three Connecticut facilities through a Texas Chapter 11 proceeding will affect Yale New Haven's rights under a $435 million asset purchase agreement covering the same properties.

  10. March 11, 2025

    Prospect Medical Avoids Pa. Hospital Closures For Now

    California-based hospital operator Prospect Medical Holdings Inc. agreed to delay its emergency motion to close three hospitals in Pennsylvania after it reached a two-week funding deal with the Foundation of Delaware County.