Akumin Wins Bankruptcy Court OK of Stonepeak Take-Private Deal

Publicly traded Akumin Inc. won bankruptcy court approval of a debt restructuring that will take the radiology services provider private by handing control of the business to investment firm Stonepeak Partners.

US Bankruptcy Judge Christopher Lopez said Wednesday he’d confirm Akumin’s Chapter 11 plan, which swaps roughly $470 million of Stonepeak’s debt holdings into equity in the reorganized business. Stonepeak has also agreed to invest $130 million into Akumin, which provides outpatient oncology and radiology to about 1,000 hospitals and health systems across the US.

Akumin lawyer Eric Lopez Schnabel said the restructuring deal still requires customary regulatory ...