6 latest healthcare bankruptcies

From reimbursement landscape challenges to dwindling patient volumes, many factors lead hospitals and other healthcare organizations to file for bankruptcy.

Here are six hospitals and healthcare companies that have filed for bankruptcy since Jan. 1, beginning with the most recent. 

1. Miami-based Hygea Holdings, which owns physician practices, pharmacies and diagnostic facilities, filed for Chapter 11 bankruptcy Feb. 19. Hygea and 32 affiliates entered bankruptcy with roughly $200 million in debt.

2. Overland Park, Kan.-based Pinnacle Healthcare System and its hospitals in Missouri and Kansas filed for Chapter 11 bankruptcy protection on Feb. 12. Pinnacle Regional Hospital in Overland Park, formerly known as Blue Valley Hospital, entered bankruptcy with assets totaling between $10 million and $50 million and liabilities within the same range. Pinnacle Regional Hospital in Booneville, Mo., formerly known as Cooper County Memorial Hospital, also entered bankruptcy Feb. 12 after abruptly shutting down in January.

3. Valeritas Holdings, a New Jersey-based company that makes insulin pumps, filed for Chapter 11 bankruptcy in February. Zealand Pharma, a Denmark-based drugmaker, will acquire substantially all of Valeritas' assets for $23 million.

4. Thomas Health, a two-hospital system based in South Charleston, W.Va., filed for Chapter 11 bankruptcy protection on Jan. 10. Officials said the bankruptcy process will help Thomas Health address its long-term debt and pursue strategic opportunities.

5. Reva Medical, a San Diego-based devicemaker that specializes in vascular devices, filed for Chapter 11 bankruptcy in January. Reva plans to continue ordinary operations while going through the bankruptcy process.

6. KRS Global Biotechnology, a Boca Raton, Fla.-based drug compounding facility, filed for Chapter 11 bankruptcy in January. In its bankruptcy filing, the drugmaker claimed less than $50,000 in assets and up to $50 million in liabilities.

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