Charter Healthcare, Provider of Hospice and Home Health Services, Files for Chapter 7 Bankruptcy

In February 2023, Charter Healthcare, a hospice and home health provider owned by Pharos Capital, filed for Chapter 7 bankruptcy without making a public announcement. The petition was filed in the Federal District Court of Delaware at the end of January, as per documents obtained by Hospice News. Public records indicate Chapter 7 filings for Charter locations in at least eight states across the company’s footprint, with its headquarters based in California.

The liquidation under Chapter 7 is available for individuals or businesses unable to make regular payments towards their debts or choosing to terminate their operations. A court-appointed trustee manages the conversion of assets into cash for distribution among creditors. Court filings reveal Charter’s total liabilities to creditors amounting to almost $37 million.

Pharos, Charter Healthcare’s private equity sponsor, did not respond to inquiries from Hospice News, and Charter’s attorney named in court documents did not provide any replies either. Despite the bankruptcy filing, Charter was actively acquiring hospice and home health companies as of 2021. In April of that year, the company purchased The Providence Hospice and The Providence Home Health Services Inc. in Texas for an undisclosed amount.

By Sophia Gonzalez

As a content writer at newsgreg.com, I am dedicated to crafting engaging stories that captivate our readers. With a knack for turning complex topics into accessible and compelling narratives, I weave words together to inform and inspire. My passion lies in delivering accurate and thought-provoking content that keeps our audience informed and entertained. From breaking news stories to in-depth features, I strive to bring a fresh perspective to every piece I create. Join me on this journey of exploration and discovery through the power of words at newsgreg.com.

Leave a Reply