Home Health & Hospice Week
Industry Note:
Florida-Based Hospice Provider Files Bankruptcy To Sell
Published on Fri Apr 01, 2016
One hospice chain is facing the painful legacy of a whistleblower lawsuit. Jacksonville, Fla.-based American Hospice Management has filed for bankruptcy and plans to sell its assets, according to press reports. The company plans to sell its businesses in Texas and Virginia to “stalking horse bidder” Hospice Partners of America for $5.5 million in cash, court documents say. AHM also has locations in Arizona, Oklahoma, Georgia, and New Jersey. It serves about 600 patients and had $57 million in revenues last year.
The company settled a False Claims Act lawsuit in 2013 for $12 million and has lost money for years, law360.com reports. It has been unable to find a buyer without bankruptcy protection.
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