Just five months after filing for bankruptcy, the company that operates the largest chain of freestanding emergency rooms in the U.S. says it will soon return as a privately held company, the Dallas Morning News reported. A North Texas judge has confirmed Adeptus Health’s restructuring plan, and the company could emerge from chapter 11 in the coming days. Adeptus Health operated nearly 100 freestanding emergency rooms and five hospitals in a handful of states, including Texas, Arizona and Colorado, when it filed chapter 11 in April. Founded in 2012, the company grew quickly into an expansive enterprise with more than 3,200 employees and its number of shareholders reached to more than 140 affiliated entities. Yet the Adeptus entities struggled to generate the revenue to cover costs at their 24-hour emergency operations, and the expense of opening of new hospitals added even more debt. Read more.
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