At least 17 physician practices, medical groups and physician staffing firms have filed for bankruptcy since January 2024.
Physician practices and clinics made up almost 30% of healthcare bankruptcy filings in the first half of 2026, which puts the sector on pace for its highest annual total since 2019, according to a July 20 report from Gibbins Advisors. The firm counted 10 practice and clinic filings in 2024, a six-year high, and six in 2025. Gibbins only tracks Chapter 11 filings by companies with more than $10 million in liabilities.
Here are 17 physician bankruptcies Becker’s has covered since 2024:
2026
Pottstown (Pa.) Medical Specialists:The 48-year-old multispecialty group filed for Chapter 11 on Aug. 30. It listed estimated assets and liabilities each between $1 million and $10 million. Court records did not give a reason for the filing.
Carbon Health (San Francisco): The hybrid primary care company filed for Chapter 11 on Feb. 2. It cited changing demand after the pandemic and tighter capital markets. The company secured $19.5 million in debtor-in-possession financing. It is pursuing a debt-for-equity plan while also marketing its assets for sale.
Uplift Family Medicine (Sherman, Texas): The practice closed permanently on Jan. 31 after filing for bankruptcy. Its physician, JoBeth Augustyniak, MD, planned to start a mobile and virtual direct care practice.
2025
White-Wilson Medical Center (Fort Walton Beach, Fla.): The 79-year-old multispecialty group filed for Chapter 11 on Oct. 6 to restructure its debt. It later came out of bankruptcy under private equity firm Kain Capital, and Brad Logan was named CEO.
Bonati Spine Institute (Hudson, Fla.): The spine practice filed for Chapter 11 on April 7, along with affiliates Gulf Coast Orthopedic Center and All American Holdings. Together they reported at least $101 million in liabilities. Two years earlier, the state had temporarily shut the practice down over allegations that a surgical technologist performed surgeries without a medical license.
Michigan Institute of Forensic Science and Medicine (Saginaw): The practice filed for Chapter 11 in April, which delayed a $551,800 arbitration judgment.
NES Health: The physician staffing firm filed for Chapter 7 on Feb. 21. It listed $1 million to $10 million in assets and $10 million to $50 million in liabilities. NES had stopped operating in November 2024, leaving emergency physicians unpaid at several hospitals.
2024
CareMax (Miami): The senior-focused primary care company filed for Chapter 11 on Nov. 17. It operated 46 centers and agreed to sell its management services organization and core clinic assets to Revere Medical.
MCR Health (Bradenton, Fla.): The nonprofit medical group filed for Chapter 11 on Nov. 8 and came out of bankruptcy in June 2025.
TW Medical Group (Innovation Medical Group) (Layton, Utah): Oct. 23
Global Wound Care Medical Group (Houston): Oct. 21
MBMG Holding (Clinical Care Medical Centers) (Miami): Oct. 13
Atlantic Neurosurgical Specialists (Morristown, N.J.): June 5
Advanced Care Hospitalists (Lakeland, Fla.): May 21
Prime Plastic Surgery Associates (San Diego): Feb. 17
Cano Health (Miami): The value-based primary care company filed for Chapter 11 on Feb. 4. Its plan converted $1 billion in secured debt into new debt and equity, backed by $150 million in new financing.
Neuragenex Treatment Centers: Jan. 26
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