Path Medical Poises for Restructuring
FORT LAUDERDALE, Fla., Sept. 02, 2021 (GLOBE NEWSWIRE) -- Due to the effects of the Covid-19 pandemic, Path Medical, a Joint Commission accredited health care practice with more than two dozen facilities across Florida and a quarter century of experience treating acute trauma and accident-related injuries, has initiated a restructuring of its debt to better ensure continued growth and what it considers best-in-class health care and customer service to its patients.
On August 28, 2021, Path Medical and its parent company, Path Medical Center Holdings, voluntarily petitioned the United States District Court for the Southern District of Florida to initiate chapter 11 restructuring proceedings. The debtors are represented by Brett Lieberman of Edelboim Lieberman Revah PLLC. Following an initial hearing on September 1, 2021, Path Medical’s management stated they were encouraged by the support they received both prior to and during the hearing from the organization’s secured creditors and believe the restructuring efforts will be successful and will allow the organization to deleverage while continuing to grow Path Medical’s footprint and service offerings in targeted Florida markets. After the hearing, Path Medical’s CEO, Manny Fernandez, stated: “Just as I am confident the world will manage and emerge more resilient from Covid-19, I am confident Path Medical will as well. We owe it to our patients, and our staff.”
Many of Path Medical’s well known advertising campaigns involve billboards, bus wraps, radio and television commercials featuring the famous telephone number 1-800-411-PAIN (7246), a number that is ubiquitous throughout the country. The 1-800-411-PAIN brand is not involved in the chapter 11 proceedings and is not owned by Path Medical. The Covid-19 pandemic continues to impact many businesses across all industries in Florida. Path Medical encourages all Floridians to get vaccinated, to respect social distancing rules and to wear a mask when around others, especially indoors.
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