Adeptus Keeps Emergency Rooms Operating After Bankruptcy Deal

Adeptus Health Inc., the largest operator of freestanding emergency rooms in the U.S., will reorganize after Deerfield Management Co. bought out the company’s bank lenders following failed attempts to stir up other serious investors (Bankr. N.D. Tex., No. 17-31432).

The Lewisville, Texas-based company, plagued by a decline in patient volumes and revenue, filed for Chapter 11 bankruptcy in Dallas on Wednesday. Adeptus said it would keep emergency rooms operating with the backing of Deerfield, a New York-based private equity firm and stakeholder that focuses on health care through investment and philanthropy. Deerfield would own all the stock in ...