TridentUSA Health Services will emerge from a turbulent bankruptcy and shed about $600 million in debt, winning court approval of a plan that hands the nursing home servicer to secured lender Silver Point Capital.
The bedside diagnostics provider has satisfied its burden for Chapter 11 plan confirmation, according to a Sept. 18 New York bankruptcy court order. It filed for bankruptcy in February, saying it faced industrywide distress amid declining reimbursement rates.
The Sparks, Md.-based company worked over the course of several months to resolve disputes related to a 2018 recapitalization and other pre-bankruptcy transactions, resulting in settlements with an ...
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