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A major regional provider of orthotic and prosthetic devices has filed for chapter 11 protection, the company’s president and chief executive officer confirmed yesterday, the New Haven Register reported today. New England Orthotic and Prosthetic Systems sought protection in mid-July from its creditors under chapter 11. The company has 21 locations in Connecticut and three other states. David Mahler, president and chief executive officer of New England Orthotic and Prosthetic Systems, said that the company’s senior debt has been acquired by the owner of a Long Island, New York-based orthotic and prosthetic retailer that he did not identify. Mahler said that the individual who purchased the senior debt is expecting to merge his company with New England Orthotic and Prosthetic Systems by the end of the year.

Senior Care Group Inc. has filed a voluntary Chapter 11 bankruptcy petition and is seeking to reorganize its finances, the Tampa Bay Business Journal reported on Friday. The Tampa nonprofit, a long-term care organization founded in 1983 with nursing homes and rehabilitation facilities throughout the area, has between $1 million and $10 million in assets and between $1 million and $10 million in liabilities, according to the July 27 filing in U.S. District Bankruptcy Court for the Middle District of Florida in Tampa. The company’s largest creditor is the Florida Agency for Health Care Administration, with two unsecured claims totaling $408,290. It also owed money to Blue Cross Blue Shield of Georgia, which has an unsecured claim of $242,459. Other creditors listed in the filing have unsecured claims of $71,000 or less.

Morehead Memorial Hospital, a 108-bed nonprofit hospital in Eden, N.C., filed for chapter 11 protection on Monday, Becker's Hospital Review reported yesterday. Documents filed in the case, which is pending in U.S. Bankruptcy Court for the Middle District of North Carolina, said that the hospital listed its assets as between $10 million and $50 million and its liabilities as in the same range. Morehead Memorial said that it has more than 5,000 creditors. The hospital's largest unsecured creditor is San Diego-based medical device company Nuvasive, which has a $641,629 claim. The hospital said it will continue to operate as normal during the bankruptcy process. Read more.

For more on hospital and health care insolvencies, be sure to pick up a copy of the ABI Health Care Insolvency Manual, Third Edition from the ABI Bookstore. 

Macon, Ga.-based Navicent Health will acquire Milledgeville, Ga.-based Oconee Regional Medical Center, which filed for chapter 11 protection in May, Becker's Hospital Review reported yesterday. ORMC filed the necessary motions in bankruptcy court in May to sell its assets to Prime Healthcare Foundation, the Ontario, Calif.-based nonprofit arm of Prime Healthcare Services. The motions included the opportunity for other interested parties to submit bids to acquire ORMC. The auction was held June 29 and Navicent was the highest bidder. The following day, the U.S. Bankruptcy Court for the Middle District of Georgia approved the transaction. Read more. 

For more on hospital and health care insolvencies, be sure to pick up a copy of the ABI Health Care Insolvency Manual, Third Edition from the ABI Bookstore. 

Kennewick, Wash.-based Trios Health, a full-service community hospital, a women's and children's specialty hospital, outpatient specialty offices and urgent care clinics, has filed for chapter 9 bankruptcy, Becker’s Hospital CFO Report reported on Friday. "We have arrived to a point that we must restructure our debt so that we can sustain our operations and services to the Tri-Cities," said Marv Kinney, president of the Trios board. "We have endeavored to avoid this process by working with our creditors. Unfortunately, a few are not amenable to negotiation so we needed to file so patient care can continue unhindered."

Premiere Medical Management Group, a Burbank, Calif.-based multispecialty medical group, filed for chapter 7 bankruptcy on Thursday, Becker’s Hospital Review reported on Friday. Documents filed in the case, which is pending in U.S. Bankruptcy Court for the Central District of California, provide an overview of the financial challenges Premiere is facing. In its bankruptcy petition, the medical group listed its assets as less than $10,000 and its liabilities as more than $1.6 million. The group said it has more than 50 creditors. Among the creditors are medical supplies companies, physical therapy service providers and IT service and software training companies. Read more. 

For more on hospital and health care insolvencies, be sure to pick up a copy of the ABI Health Care Insolvency Manual, Third Edition, from the ABI Bookstore.