Arizona multi-specialty group files for bankruptcy, again

Chandler, Ariz.-based Phoenician Medical Center filed for Chapter 11 bankruptcy August 24.

Phoenician Medical Center includes East Valley Family Medical and 21st Century Family Medicine, which have locations across Arizona in Phoenix, Glendale, Gilbert, Casa Grande, Tempe, Ahwatukee, Chandler and Mesa.

In documents filed in the bankruptcy case, PMC listed its assets as between $1 million and $10 million and its liabilities as in the same range. The medical group said it had fewer than 50 creditors.

This is the second time PMC has sought bankruptcy protection. The medical group previously filed for Chapter 11 bankruptcy in April 2012, and that case was closed Feb. 25, 2014.

More articles on healthcare finance:

MD Anderson operating in the black for first time in more than a year
For-profit hospital operators likely to experience weak patient admissions through 2018
Augusta University Health System blames lack of physicians for $8.8M loss

 

© Copyright ASC COMMUNICATIONS 2020. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Featured Webinars

Featured Whitepapers