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Wellpath to sell behavioral division, declare bankruptcy: 5 notes
Becker's Healthcare November 15, 2024
Wellpath, one of the largest providers of mental and physical healthcare in US prisons, has filed for bankruptcy, the Miami Herald reported Nov. 14.
The Nashville-based company will attempt to sell its behavioral health division, Recovery Solutions, Wellpath said in a Nov. 12 news release. Recovery Solutions operates civil and forensic behavioral health hospitals in seven states.
Here are five things to know:
- The company has more than $644 million in debt, according to the Miami Herald.
- Significant financial challenges led to the company’s bankruptcy, CEO Ben Slocum said in the news release. The company...
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