The Villages Health (“TVH”) Announces Strategic Restructuring and Agreement to be …

🗝️ Key Points

• The Villages Health (TVH) files for Chapter 11 bankruptcy amid Medicare billing discrepancies.
• CenterWell, a subsidiary of Humana (HUM, Financial), to acquire TVH's assets through a "stalking horse" agreement.
• TVH to maintain operations during the restructuring, with over 55,000 patients receiving uninterrupted care.The Villages Health (TVH), a healthcare provider in Florida, has initiated a strategic restructuring process by filing for Chapter 11 bankruptcy following the discovery of Medicare billing discrepancies in Fall 2024.

• The Villages Health (TVH) files for Chapter 11 bankruptcy amid Medicare billing discrepancies.
• CenterWell, a subsidiary of Humana (HUM, Financial), to acquire TVH’s assets through a “stalking horse” agreement.
• TVH to maintain operations during the restructuring, with over 55,000 patients receiving uninterrupted care.

The Villages Health (TVH), a healthcare provider in Florida, has initiated a strategic restructuring process by filing for Chapter 11 bankruptcy following the discovery of Medicare billing discrepancies in Fall 2024. These discrepancies could result in hundreds of millions of dollars in overpayments and penalties.

In a significant development, CenterWell, a subsidiary of Humana (HUM, Financial), has entered into a “stalking horse” Asset Purchase Agreement to acquire TVH’s assets. The acquisition includes eight primary care centers and two specialty care centers. However, the sale is subject to court approval and may invite competing bids during an auction process.

Despite the financial hurdles, TVH remains committed to providing high-quality healthcare services to its 55,000+ patients throughout the transition. CenterWell’s payor-agnostic model ensures that TVH patients will continue to have access to their current healthcare providers, irrespective of their insurance plans.

Dr. Elliot Sussman, Chairman of the Board at TVH, expressed optimism about the restructuring, emphasizing that it aims to preserve and enhance patient care. The collaboration with CenterWell is expected to strengthen TVH’s capacity to continue delivering patient-centered, primary care-driven services.

Throughout the sale process, TVH will continue its operations without interruption, ensuring consistent and reliable healthcare services to its patients. This acquisition aligns with Humana’s strategic expansion in the senior healthcare market, offering both immediate access to a large patient base and opportunities for enhancing care coordination.

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