GenesisCare Likely to Sell Bankrupt Healthcare Assets in Pieces

GenesisCare, an Australia-based operator of cancer treatment centers, is likely to sell its bankrupt US operations in pieces instead of attracting a buyer willing to rescue the entire business, lawyers said in court Wednesday.

Interest so far indicates bidders are likely to focus on individual assets based on where they are located, company lawyer Lindsey Blum told the judge overseeing the Chapter 11 case during a hearing in Houston. Bids for the various operations are due in September and if enough offers come in, the company will hold an auction in early October.

US Bankruptcy Judge David R. Jones ...