Bloomberg Law
May 23, 2023, 12:24 PM

Benefytt Technologies Files for Chapter 11 Bankruptcy in Texas

Janine Phakdeetham
Janine Phakdeetham
Bloomberg News

Benefytt Technologies Inc. has filed for Chapter 11 bankruptcy protection in the Southern District of Texas, according to a court filing.

  • The health insurance firm’s liabilities are as much as $1 billion, while its assets are as much as $10 billion
  • The Tampa, Florida-based company plans to secure $35 million of debtor-in-possession financing to fund itself through Chapter 11, court papers show
  • Private equity firm Madison Dearborn Partners bought Benefytt in 2020 for $625 million
  • The US Securities and Exchange Commission and the Federal Trade Commissiontook action against Benefytt in 2022 for misleading marketing, “sham health plans,” and junk ...

Learn more about Bloomberg Law or Log In to keep reading:

Learn About Bloomberg Law

AI-powered legal analytics, workflow tools and premium legal & business news.

Already a subscriber?

Log in to keep reading or access research tools.