Major health services provider files for Chapter 11 bankruptcy

Core Insights - The health care sector has seen a significant reduction in bankruptcy filings in 2025 compared to previous years, with at least 21 hospitals and health organizations filing for bankruptcy protection so far this year [1][9] Group 1: Bankruptcy Filings - In 2025, there have been 21 bankruptcy filings as of November 21, compared to 57 in 2024 and 79 in 2023, indicating a downward trend in filings [9] - Major health services companies continue to file for bankruptcy despite the overall reduction in filings [1] Group 2: Notable Bankruptcy Cases - Glutality Global Holdings LLC, a health care technology company, filed for Chapter 11, Subchapter V, listing assets and liabilities between $100 million and $500 million [2][3] - Navidea Biopharmaceuticals Inc. filed for Chapter 11 protection on October 1, facing financial distress due to litigation and supply chain issues [4] - ModivCare Inc. and 70 affiliates filed for prearranged Chapter 11 bankruptcy on August 20, aiming to reduce $1.4 billion in debt [5] - Omni Health Services Inc., a mental health services provider, filed for Chapter 11 bankruptcy on November 20, listing assets and liabilities between $1 million and $10 million [6][7]