CarePoint Says It Files for Chapter 11, Gets $67m New Funding

CarePoint Health Systems Inc. has filed voluntary petitions for relief under Chapter 11 bankruptcy in Delaware court, according to company statement.

• Obtained $67 million in new financing to ensure that its hospitals remain open
• Restructure due to “increase in direct costs of operating the Hospitals after Covid, insufficient state funding, and persistent reimbursement challenges”
• Achintya Moulick to serve as CEO/Chairman of CarePoint Health
• NOTE: In March, Troubled New Jersey Hospitals Tap Insight to Rescue Finances

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Janine Phakdeetham in Bangkok at jphakdeetham@bloomberg.net

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