Villages Health Files Chapter 11, to Sell Assets to CenterWell

The Villages Health says it has filed for Chapter 11 bankruptcy in the Middle District of Florida court as part of a strategic restructuring, according to a statement.

• Estimated liabilities of $100m-$500m and estimated assets of $50m-$100m, a separate court filing shows
• Humana Inc’s CenterWell Senior Primary Care entered into a “stalking horse” asset purchase agreement with TVH
  • Deal provides for CenterWell to acquire TVH’s assets as a going concern, including eight primary care centers and two specialty care centers
• TVH will continue to fully operate its business and manage its affairs without interruption during the sale process
  • TVH ...