Orianna Health Bankruptcy Plan Approved After Rocky Road (1)

Nursing and hospice care provider Orianna Health Systems had its reorganization plan confirmed by a Texas bankruptcy judge. The ruling resolves one of a growing number of bankruptcy cases filed by skilled nursing or assisted living facilities.

Orianna operates 42 skilled nursing, hospice and palliative care facilities located in Georgia, Indiana, Mississippi, North Carolina, South Carolina, Tennessee, and Virginia.

Under the plan approved by Judge Harlin DeWayne Hale of the U.S. Bankruptcy Court for the Northern District of Texas after a hearing Jan. 8, secured creditors will receive the bulk of the $225 million sale price for the company.

Administrative ...