• Sat. Apr 20th, 2024

Hospice Provider Charter Healthcare Files for Bankruptcy Without Public Announcement

BySamantha Jones

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

In February 2023, Charter Healthcare, a hospice and home health provider owned by Pharos Capital, filed for Chapter 7 bankruptcy without making any 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 filings for Charter locations in at least eight states across the company’s footprint were discovered through public records. The company’s headquarters is based in California and its website is no longer accessible. At the time of the bankruptcy filing, Charter served nearly 13,000 patients under various brand names offering hospice, home health, complex care management, and palliative care services.

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. Court filings reveal Charter’s total liabilities to creditors amounting to almost $37 million.

Pharos Capital, Charter Healthcare’s private equity sponsor did not respond to inquiries from Hospice News while Charter’s attorney named in court documents did not provide any replies either. Despite this bankruptcy filing, records show that Charter was actively acquiring hospice and home health companies as of 2021. In April of that year, the company purchased The Providence Hospice and The Providence Home Health Services Inc., both located in Texas for an undisclosed amount.

By Samantha Jones

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