Lewisville, Texas-based Adeptus Health, the largest operator of freestanding emergency rooms in the U.S., needs to borrow an additional $17 million as it gets ready to exit bankruptcy in September, according to Reuters.
When Adeptus filed for Chapter 11 bankruptcy in April, New York City-based hedge fund Deerfield Management committed to providing Adeptus with debtor-in-possession financing. Through the restructuring process, Deerfield will take over ownership of Adeptus.
Including the additional $17 million, Deerfield's total bankruptcy loan to Adeptus would total $74 million, according to Reuters.
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