Emergency-Room-Staffing Firm Shelves Struggling Leveraged Loan

American Physician Partners, a closely held provider of doctors to emergency rooms, has shelved a leveraged loan sale that had struggled to attract demand from investors, according to a person with knowledge of the matter.

The company, which is jointly owned by its member physicians, management and private equity firm Brown Brothers Harriman & Co., was looking to raise $520 million to refinance existing debt and pay for acquisitions.

The offering was clouded by concerns over new legislation due to come into effect in January 2022 to tackle surprise billing, which limits the financial responsibility of patients ...