Bankrupt LifeCare to Sell Assets to Lenders

LCI Holdco, the parent company of Plano, Texas-based hospital operator LifeCare Holdings, announced it will sell substantially all of its assets to a limited liability corporation formed by LifeCare’s senior secured lenders.

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By: Staff

LifeCare, which operates 27 long-term acute-care hospitals across 10 states, declared bankruptcy in December and received no qualified bids by a court-designated deadline last week other than one from Hospital Acquisition, the stalking horse purchaser LifeCare’s lenders set up in its Chapter 11 proceedings.

After an approval hearing scheduled for April 2, the transaction is expected to be completed this summer.

More Articles on Hospitals and Bankruptcy:

Is Bigger Always Better? Exploring the Risks of Health System Mega-Mergers
SSM Health Care Acquires Audrain Medical Center in Missouri
Hospital and Health System Transactions (March 2013)

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