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:

August 19, 2025
Prospect Medical Says Yale Deal Is Top Offer For Hospitals

Hospital operator Prospect Medical Holdings Inc. has asked to assume a $435 million pre-bankruptcy agreement to sell its three Connecticut hospitals to Yale New Haven Health Services Corp., arguing it contains the "highest possible recovery" for its creditors.
August 06, 2025
Prospect Medical Names Stalking Horse For California Assets

Bankrupt healthcare company Prospect Medical Holdings Inc. told a Texas bankruptcy judge it had selected a subsidiary of Healthcare Systems of America to provide a bidding floor for debtor assets in California.
July 23, 2025
Yale Wins Bid To Keep $435M Hospital Sale Suit In State Court

A Connecticut federal judge has sided with Yale New Haven Health Services Corp., the state's largest hospital system, in sending a contract suit with a bankrupt hospital seller back to state court, finding that remand would best preserve court resources rather than transferring it to a bankruptcy judge in Texas.
July 15, 2025
Catching Up With New Bankruptcy Case Action

From a pair of healthcare bankruptcies to a startup investment platform's Chapter 11 case, here are the latest new insolvency proceedings.
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.
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.
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.
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.
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.
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.