The bankruptcies affecting the ASC industry

Declaring bankruptcy is often the last resort for any organization, but sometimes it is a necessary step. 

Here are three bankruptcies that have affected ASCs in 2023: 

1. KKR-backed GenesisCare filed for bankruptcy in Texas Southern Bankruptcy Court June 1. As a result, Asheville, N.C.-based GenesisCare Surgical Specialists closed Oct. 20.

2. Medical staffing company American Physician Partners voluntarily filed for Chapter 11 protection under the U.S. Bankruptcy Code. American Physician Partners provided services to more than 150 hospitals and health system organizations in 18 states.

3. ASC operator and physician services company Envision filed for Chapter 11 bankruptcy. AmSurg has since purchased all surgery centers held by Envision.

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