Long-Term Care Sector Accounts For 54% Of Health Care Bankruptcies In 2021 & 2022

The long-term care sector accounted for 54% of Chapter 11 bankruptcy filings by health care organizations from January 2021 through June 2022. The second highest number of filings were in the pharmaceutical sector, at 10% of bankruptcy case volume. During 2022, across all large health care organizations with liabilities of $10 million or more, Chapter 11 filings are up by 28%, from 25 filings in 2021 and 32 during the first half of 2022.

During the 18-month period from January 2021 through June 2022, there were 55 health care bankruptcy filings, and 30 of these (54%) were filed . . .