Medical staffing company American Physician Partners has voluntarily filed for Chapter 11 protection under the U.S. Bankruptcy Code.
Here are three things to know:
1. The move comes after the Brentwood, Tenn.-based company announced in July that it would close and transition to 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.
2. American Physician Partners provided services to more than 150 hospitals and health systems organizations in 18 states.
3. "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."