Imagine Monday’s Healthcare announced The company announced it had filed for bankruptcy protection five years after it was acquired by private equity firm KKR for about $10 billion.
of wall street journal It was reported last week that a bankruptcy filing had been filed. was pressing For the locally-based medical staffing firm, he said the bankruptcy would be “one of the biggest losses in history” for KKR.
According to the release, Envision “will continue to operate as normal during the restructuring process.” amsaag, Merged with Envision It closed a multi-billion dollar deal in 2016 and will operate as a separate business.
“The Envision team plays a key role in the functioning of the US healthcare system,” CEO Jim Lechtin said in a release. “We are grateful to Envision’s clinicians, partner physicians and clinical support teammates who continue to provide care when patients need it most.”
The company blamed its bankruptcy on a series of events in the early months of the COVID-19 pandemic, including falling patient numbers, disputes with insurance companies, and a “national shortage of clinicians and rising inflation.” claimed.
Bankruptcy filings were filed in the Southern District of Texas. Envision’s legal counsel is Kirkland & Ellis, and PJT Partners and Alvarez & Marsal also advise the company on financial matters.