Creditors to Radiology Provider Akumin Organize with Law Firm

Some noteholders to Akumin Inc. have organized with restructuring law firm Akin Gump Strauss Hauer & Feld as the diagnostic imaging provider grapples with earnings pressure and burns through cash, according to people with knowledge of the situation.

The mobilization comes as the company disclosed Aug. 9 that it has formed a special board committee to explore “strategic initiatives” to address its capital structure. The company, which is backed by private equity sponsor Stonepeak Partners, has more than $1.3 billion of debt, including $475 million of 7% secured notes due 2025, $375 million of 7.5% secured notes ...