Healthcare bankruptcies in 2023 hit highest level in 5 years
02/08/24 at 03:00 AM
Healthcare bankruptcies in 2023 hit highest level in 5 years
Modern Healthcare, by Caroline Hudson; 1/25/24
Healthcare company bankruptcies soared in 2023 to their highest level in the last five years, according to a report released Thursday by Gibbins Advisors. The advisory firm's report, which looked at Chapter 11 bankruptcy case filings from 2019 to 2023, found 79 healthcare companies with more than $10 million in liabilities filed for bankruptcy protection last year. Pharmaceutical and senior care companies made up nearly half of the list. The next-highest year for bankruptcies was 2019, when 51 companies filed for protection.