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

Hospice Healthcare, a hospice and home health provider owned by Pharos Capital, has recently 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. Public records indicate Chapter 7 filings for Charter locations in at least eight states across the company’s footprint, with its headquarters based in California.

At the time of the bankruptcy filing in February 2023, Charter served nearly 13,000 patients by offering hospice, home health, complex care management, and palliative care services under various brand names. 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, Charter Healthcare’s private equity sponsor, did not respond to inquiries from Hospice News, and Charter’s attorney named in court documents did not provide any replies either. The filings also mention Charter CEO Cheryl Lovell, who assumed her position at the company early last year. According to her LinkedIn page, Lovell is no longer associated with Charter as of January despite the bankruptcy filing. Despite this news, it appears that Charter was actively acquiring hospice and home health companies as of 2021

By Samantha Jones

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