Cardiac Connection Home Health Care Nursing Services Corp., a Chesterfield County, Va.-based business, filed for chapter 11 protection on Monday, but the lawyer representing the company said the business plans to continue operations, the Richmond Times Dispatch reported today. The home health company, which has 12 employees, provides care to patients after they have been released from the hospital with serious cardiac issues, according to Robert Westermann, an attorney with Hirschler Fleischer who is representing Cardiac Connection. But the company has some “obligations that just need to be restructured” through chapter 11, Westermann said, including its Medicaid and Medicare billings. They needed to be able to “address all these creditor claims in one forum, rather than putting out several different fires from different creditors,” he said. In U.S. Bankruptcy Court in Richmond on Wednesday, Westermann said, the company was granted authority to continue to meet all its payroll obligations and to continue to use receivables that are collected from the government from Medicare and Medicaid. In its filing, Cardiac Connections listed its estimated assets as between $100,001 and $500,000, with its estimated liabilities between $500,001 and $1 million. Read more.
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