Univita files for bankruptcy
MIRAMAR, Fla. – Univita Health filed for Chapter 7 bankruptcy Aug. 28 in a move to liquidate its assets after closing abruptly earlier in the month.
The filing with the U.S. Bankruptcy Court in Delaware lists assets of nearly $47 million, with nearly $41 million in accounts receivable.
The filing includes a list of creditors more than 1,100 pages long. There are two secured claims listed (Genstar Capital for about $20.6 million and Isuzu Finance of America for $400,000) followed by pages and pages of unsecured claims with no monetary amounts.
Univita left the medical community and Medicaid beneficiaries scrambling in August when it closed and laid off 1,000 employees. Univita, which provided HME, home infusion, nursing and other services, also served as a plan administrator for 10 of the 14 managed care organizations overseeing the state’s Medicaid program.
The private-equity backed Univita formed in 2008 and entered the HME market in 2010, when it acquired Davie-based Atenda Healthcare Solutions. By 2012, the company had 5 million patients across several states, including Tennessee, California, Minnesota, Indiana, Wisconsin and Massachusetts.