Praesum Healthcare has filed for Chapter 11 bankruptcy protections with a federal court in Florida. Court documents detail allegations that the Lake Worth, Florida-based addiction treatment provider has violated the cash flow, profitability ratio and free cash covenants of a $23 million loan issued in May 2023 by City National Bank of Florida. The bank also claims that Praesum violated financial reporting requirements tied to the loan. Praesum Healthcare indicated in the bankruptcy application that it has between 200 and 999 creditors, assets that total between $50 million and $100 million, and liabilities that total between $10 and $50 million.
Read the full article: Praesum Healthcare Files for Chapter 11 Amid Tiff with Lender over $23M Loan //
Source: https://bhbusiness.com/2025/08/15/praesum-healthcare-files-for-chapter-11-amid-tiff-with-lender-over-23m-loan/