The Story Behind Global Wound Care Group's Ch. 11

By Yun Park · November 7, 2024, 7:39 PM EST

Allegations of potential fraud at Global Wound Care Group helped drive it toward seeking bankruptcy protection in Texas, with a year-long federal investigation now hanging over its Chapter 11 case....

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Bankruptcy Scorecard

Summary

The Los Angeles-based multistate wound care practice filed for Chapter 11 protection in a Texas bankruptcy court, saying it can't pay nearly $156 million in charges from its management company after its Medicare payments were suspended last month.

Case Number

24-34908

Judge

Christopher M. Lopez

Venue

U.S. Bankruptcy Court for the Southern District of Texas

Capital Structure

Total Liabilities:

$157.1 million

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Case Information

Case Title

Global Wound Care Medical Group, a Professional Corporation

Case Number

4:24-bk-34908

Court

Texas Southern

Nature of Suit

Date Filed

October 21, 2024

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