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Originally Posted by birdawg
What’s your thoughts on Villages Health filing chapter 11
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I was shocked when I read it in the Daily Sun today. I received an urgent text message from Villages Health. The link for that did not work. Maybe they need to pay back money to Medicare which they do not have.
Based on the bankruptcy filing it looks like Morse family no longer wants to finance this unprofitable entity. I had always assumed that Morse family would keep on funding entity which allows them to sell more homes to Medicare eligible people.
"The Villages Health says it has filed for Chapter 11 bankruptcy in the Middle District of Florida court as part of a strategic restructuring, according to a statement.
Estimated liabilities of $100m-$500m and estimated assets of $50m-$100m, a separate court filing shows
Humana Inc’s CenterWell Senior Primary Care entered into a “stalking horse” asset purchase agreement with TVH
Deal provides for CenterWell to acquire TVH’s assets as a going concern, including eight primary care centers and two specialty care centers
TVH will continue to fully operate its business and manage its affairs without interruption during the sale process."