Provant Health Solutions, weighed down by operating losses and deal-related debt, filed for bankruptcy in New York on Monday with plans to sell virtually all of its assets to a subsidiary of Quest Diagnostics Inc. for $27 million, the WSJ Pro Bankruptcy reported. Provant, based in Olathe, Kan., provides services that include sample collection, health-risk screening and on-site flu shots administered by independent contractors. Its customers include corporations and clinical-research organizations. Provant said it has 326 employees on its payroll but through a network of health professionals did nearly 1 million screenings last year. Provant and six related companies, including publicly traded Hooper Holmes Inc., entered bankruptcy with $24.4 million in debt, of which $17.6 million is a secured term loan owed to SWK Holdings Corp. of Dallas and $4.8 million is a secured revolving credit facility provided by CNH Finance L.P. of Greenwich, Conn. SWK specializes in providing financing to health-care companies, and the industry is also one of CNH’s main areas of focus.
