• Sat. Apr 20th, 2024

Hospice Provider Charter Healthcare Files for Chapter 7 Bankruptcy Without Public Announcement, Leaving Patients in Limbo

BySamantha Jones

Apr 2, 2024
Charter Healthcare, Provider of Hospice and Home Health Services, Files for Chapter 7 Bankruptcy

In February 2023, Charter Healthcare, a hospice and home health provider owned by Pharos Capital, filed for Chapter 7 bankruptcy without making a public announcement. The petition was filed in the Federal District Court of Delaware at the end of January, as per documents obtained by Hospice News. Public records indicate Chapter 7 filings for Charter locations in at least eight states across the company’s footprint, with its headquarters based in California.

At the time of the bankruptcy filing, Charter served nearly 13,000 patients by offering hospice, home health, complex care management, and palliative care services under various brand names. Liquidation under Chapter 7 is available for individuals or businesses unable to make regular payments towards their debts or choosing to terminate their operations. A court-appointed trustee manages the conversion of assets into cash for distribution among creditors. Court filings reveal Charter’s total liabilities to creditors amounting to almost $37 million.

Despite the bankruptcy filing, Charter was actively acquiring hospice and home health companies as of 2021. In April of that year, the company purchased The Providence Hospice and The Providence Home Health Services Inc. in Texas for an undisclosed amount. Pharos Capital did not respond to inquiries from Hospice News about the bankruptcy filing or their involvement with Charter Healthcare.

By Samantha Jones

As a dedicated content writer at newszxcv.com, I bring a passion for storytelling and a keen eye for detail to every piece I create. With a background in journalism and a love for crafting engaging narratives, I strive to deliver informative and captivating content that resonates with our readers. Whether I'm covering breaking news or delving into in-depth features, my goal is to inform, entertain, and inspire through the power of words. Join me on this journey as we explore the ever-evolving world of news together.

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