Texas ASC files for bankruptcy — 3 details

San Antonio-based Babcock Surgical Center filed for bankruptcy, according to the San Antonio Business Journal.

What you should know:

1. The ASC filed for voluntary Chapter 7 bankruptcy protection June 11 in the Western District of Texas. Under Chapter 7 bankruptcy protection, businesses are typically liquidating assets to satisfy creditor claims.

2. Babcock Surgical Center's bankruptcy filing listed assets of up to $50,493 and debts of up to $3.66 million.

3. With an outstanding claim of $2.93 million, the largest creditor listed on Babcock's bankruptcy filing was UnitedHealthcare Insurance Co.

More articles on surgery centers:
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The state of ASCs in June 2020: 10 observations on supply chain, payers, staffing & future growth
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