• Tue. Apr 23rd, 2024

Charter Healthcare Files for Chapter 7 Bankruptcy in Delaware Without Public Announcement

BySamantha Nguyen

Apr 2, 2024
Charter Healthcare, Provider of Hospice and Home Health Services, Files for Chapter 7 Bankruptcy

In recent news, Charter Healthcare, a hospice and home health provider owned by Pharos Capital, has filed for Chapter 7 bankruptcy without making a public announcement. The petition was filed in the Federal District Court of Delaware at the end of January, as per documents obtained by Hospice News.

Chapter 7 bankruptcy filings for Charter locations in at least eight states across the company’s footprint have been made public. The headquarters of Charter Healthcare is based in California. Public records indicate that the company served nearly 13,000 patients by offering hospice, home health, complex care management, and palliative care services under various brand names as of February 2023.

Liquidation under Chapter 7 is available for individuals or businesses unable to make regular payments towards their debts or choosing to terminate their operations. A court-appointed trustee manages the conversion of assets into cash for distribution among creditors. According to court filings, Charter’s total liabilities to creditors amount to almost $37 million.

Pharos Capital, the private equity sponsor of Charter Healthcare, did not respond to inquiries from Hospice News regarding the bankruptcy filing. Additionally, Charter’s attorney named in court documents did not provide any replies either. The filings also mention Cheryl Lovell as CEO of Charter Healthcare who assumed her position at the company early last year. However, according to her LinkedIn page, she is no longer associated with Charter as of January 2023 despite the bankruptcy filing.

Despite this development, it is worth noting that Charter was actively acquiring hospice and home health companies as recently as April 2021 when they purchased The Providence Hospice and The Providence Home Health Services Inc., both located in Texas for an undisclosed amount.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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