The company, which operates 179 cancer treatment centers across the U.S. and Latin America, blamed the bankruptcy on costs associated with litigation, legal settlements and complying with electronic records regulations, as well as declining revenue per treatment, according to Reuters.
The cancer care provider paid nearly $55 million to settle false claims allegations last year, and it is also being investigated in regards to a 2015 data breach.
Interim CEO Paul Rundell told Reuters 21st Century Oncology will lower its debt by $500 million through the bankruptcy process.
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