Another major healthcare company files for Chapter 11 bankruptcy
The essential healthcare company files for bankruptcy to hand ownership to its lenders.
The biotechnology sector faced a spike in financial catastrophe filings in the U.S. in 2023 and 2024 after over a dozen years of fewer than 10 filings every 300 and sixty five days.
Bankuptcy filings topped out with 14 filings in 2023, the most since 2010, when 14 companies also filed. In 2024, 13 biotech companies filed for financial catastrophe with six companies reorganizing and seven liquidating and going out of industrial.
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