The Villages Health ("TVH") Announces Strategic Restructuring and Agreement to be Acquired by CenterWell

Core Viewpoint - The Villages Health (TVH) is undergoing a strategic restructuring, including a voluntary Chapter 11 bankruptcy filing, to enhance patient care and maintain daily operations [1][2]. Company Overview - TVH is a premier healthcare provider in North Central Florida, operating primary and specialty care centers, and serving over 55,000 patients, many of whom are Medicare beneficiaries [5][9]. Strategic Actions - TVH has entered into a "stalking horse" Asset Purchase Agreement with CenterWell Senior Primary Care, which will acquire TVH's assets, including eight primary care centers and two specialty care centers [2][3]. - The transaction is contingent upon a court order following an auction process, allowing other parties to submit offers [2]. Operational Continuity - During the sale process, TVH will continue to operate without interruption, ensuring high-quality healthcare services for patients [2][4]. - Patients are expected to retain access to their current providers post-transaction, regardless of their insurance plans [2]. Leadership Statements - TVH leadership emphasizes that the restructuring plan is in the best interest of patients and the community, aiming for a promising future under CenterWell [3][4]. - CenterWell expresses commitment to improving patient health through a personalized and integrated care approach [5]. Financial Context - TVH has been addressing issues related to Medicare billing practices, which may involve hundreds of millions of dollars in overpayments and potential penalties, independent of the transaction with CenterWell [6].