Radiology Provider Akumin to Go Bankrupt, Give Keys to Creditor

Radiology provider Akumin Inc. plans to file for bankruptcy and go private in a deal that will see Stonepeak Partners take over the business, according to a statement.

The company, which provides radiology and oncology services to around 1,000 hospitals and healthcare centers in the US, agreed to swap $470 million of debt held by Stonepeak for equity, according to a Friday statement. The private equity firm has also agreed to invest $130 million of new money.

The deal calls for current shareholders to receive their portion of a $25 million cash pool, according to a statement. As of ...