Emergency medicine management company American Physician Partners has voluntarily filed for Chapter 11 protection under the U.S. Bankruptcy Code.
The move follows a July 17 announcement that the company was closing and planning to transition its hospital contracts. As of July 31, APP had transitioned all its clients to other strategic emergency medicine companies or insourced with the respective hospitals or health systems, according to a Sept. 18 news release.
"APP filed for Chapter 11 after careful consideration and in consultation with management, advisors, and the Board," the release said. "APP’s management team has made an extraordinary effort to focus on patient care above all else and advocate for the valued team serving its patients and supporting clinicians, while navigating financial challenges and difficult market conditions. APP extends its deepest gratitude to its dedicated physicians, clinicians, employees, and partners who have been part of the Company’s journey."
APP was founded in 2015 as a portfolio company of Brown Brothers Harriman Capital Partners. The company provided emergency medicine and hospital medicine management services to more than 150 hospitals and health systems organizations across 18 states.