In one of the largest health-related bankruptcies, Envision Healthcare Corp has filed for Chapter 11 bankruptcy, aiming to restructure its debt and implement layoffs. The company, backed by private equity, faces challenges such as legal battles with insurers, pandemic-driven declines in patient volumes, and financial losses due to legislative changes. Despite the bankruptcy filing, Envision plans to continue clinical operations and address the impact on employees and stakeholders. Litigation and layoffs are pending, with the company facing legal actions and workforce reductions. The restructuring agreement aims to sustain clinical operations and separate ownership of Envision's doctor practice and ambulatory surgery unit.
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by John Mccorma... at www.medscape.com 05-22-2023
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