Orion HealthCorp, Medical Biller, Adds New Unit to Bankruptcy

New York Network Management LLC, a medical billing firm, joined Orion HealthCorp Inc. and other affiliates in bankruptcy, as the companies announced an extension of an auction to sell assets.

NYNM was listed as a new affiliate in Chapter 11 with up to $500 million in debt, according to papers filed July 5 in the U.S. Bankruptcy Court for the Eastern District of New York.

Orion HealthCorp filings said that since an initial offer to buy its assets from HealthTek Solutions LLC for $23 million, it “bifurcated” its offer, bidding $10.6 million for the company’s “RCM Business” and $16.5 million ...