Bankruptcy is one option Quorum Health Corp. is considering as the COVID-19 pandemic weighs on the already struggling for-profit hospital chain. Brentwood, Tenn.-based Quorum revealed in a Securities and Exchange Commission filing it is in talks with its debt holders regarding a recapitalization or financial reorganization transaction that may include voluntarily filing for Chapter 11 bankruptcy. The company stressed the need to grow liquidity and continue patient care and hospital operations. Quorum CEO Robert Fish said in a statement that regardless of the path forward, Quorum and its hospitals will maintain all operations without interruption. Meanwhile, the investment group Mudrick Capital Management, which owns roughly 10% of Quorum’s shares, warned the company in a March 23 letter on behalf of its shareholders not to enter bankruptcy.
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Source: https://www.modernhealthcare.com/finance/quorum-considering-bankruptcy-it-struggles-stay-afloat