Deals
GenesisCare Files Bankruptcy With Plans to Sell US Business
- Australian company sought Chapter 11 protection in Texas
- Company has commitments for $200 million of DIP financing
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GenesisCare, an Australia-based operator of cancer treatment centers, filed for bankruptcy and will attempt to sell its struggling US operations.
The health-care provider said in a statement that it filed a Chapter 11 petition in Texas and secured commitments for $200 million of financing to help the company fund itself in bankruptcy. The filing allows the business to keep operating while it works out a plan to repay its debts.