CareMax Becomes Latest Health System to File for Bankruptcy

Miami-based CareMax Inc., which runs a system of medical centers catered toward elderly patients, has filed for bankruptcy.

Publicly traded CareMax filed Chapter 11 in Texas on Sunday, listing assets of between $100 million and $500 million, and liabilities between $500 million and $1 billion.

CareMax sought court protection after cutting costs and attempting to refinance its debt. The company had also explored selling some of its assets, and warned in securities filings that it would attempt to restructure in Chapter 11 if it was unable to get enough relief from creditors and landlords.

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