Charter Healthcare, Provider of Hospice and Home Health Services, Files for Chapter 7 Bankruptcy

Chapter 7 Bankruptcy: Hospice and Home Health Provider Owned by Pharos Capital Leaves Industry in Shock”.

A hospice and home health provider owned by Pharos Capital, Charter Healthcare, has recently filed for Chapter 7 bankruptcy without making a public announcement. According to documents obtained by Hospice News, the petition was filed in the Federal District Court of Delaware at the end of January. Public records indicate that Chapter 7 filings have been made for Charter locations in at least eight states across its footprint, with its headquarters located in California.

Charter Healthcare serves nearly 13,000 patients by offering hospice, home health, complex care management, and palliative care services under various brand names. Liquidation under Chapter 7 is available for individuals or businesses unable to make regular payments towards their debts or choosing to terminate their operations. A court-appointed trustee manages the conversion of assets into cash for distribution among creditors. The filings reveal that Charter’s total liabilities to creditors amount to almost $37 million.

Despite the bankruptcy filing, Charter was actively acquiring hospice and home health companies as of 2021. In April of that year, the company purchased The Providence Hospice and The Providence Home Health Services Inc. in Texas for an undisclosed amount. However, it is unclear what led to Charter’s financial difficulties or whether this acquisition played a role in its decision to file for bankruptcy. Pharos Capital did not respond to inquiries from Hospice News, and Charter’s attorney named in court documents did not provide any replies either.

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