In bankruptcy documents, MedCare, a provider of in-home and clinic-based nursing services and therapy, listed its assets as between $500,000 and $1 million and liabilities as between $1 million and $10 million, according to the report.
The pediatric group entered bankruptcy the day before the IRS was slated to file a federal tax lien for employments taxes, which could have caused MedCare to default on certain loans. The tax lien “almost certainly would have made additional financing impossible to obtain,” according to bankruptcy documents cited by the Houston Business Journal.
More articles on healthcare finance:
14 health systems with strong finances
CMS launches new payment model for emergency care: 5 things to know
Private equity pushes into healthcare: 6 latest deals
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
