GenesisCare to pursue the separation of US business while US management implements turnaround strategy, according to a statement.
- Company says it will separate US business from its businesses in Australia, Spain, and the UK, creating two platforms
- GenesisCare has secured commitments for a debtor-in-possession financing facility providing $200 million in new money from existing lenders to support its business operations
- During the restructuring, the company intends to operate ordinarily
- NOTE, earlier:
GenesisCare Unit Files for Chapter 11 Bankruptcy in Texas
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