Healthcare Company Bankruptcies Soared in 2023

Last year, healthcare company bankruptcies increased to their highest level in five years, Modern Healthcare reports, citing Gibbins Advisors analysis. The advisory firm’s report, which looked at Chapter 11 bankruptcy case filings from 2019 to 2023, found 79 healthcare companies with more than $10 million in liabilities that filed for bankruptcy protection last year. Pharmaceutical and senior care companies made up nearly half of the list. The second-highest year for bankruptcies was 2019, with 51 companies filing.