Residence Well being and Hospice Supplier Intrepid USA just lately utilized for a chapter.

On the finish of Might, the corporate submitted a petition for Chapter 7 Chapter within the Southern District Courtroom of Texas, in line with judicial paperwork. Submitting chapter 7 Chapter ends in a straight liquidation, in line with Adam Stein-Sapir, a chapter knowledgeable at Pioneer Funding Group LLC.

'[With Chapter 7] There isn’t a hope for rehabilitation, “he instructed well being care information at dwelling.” The debtor is aware of that they won’t come out of chapter with a go-forward enterprise or property, they usually actually go out of business utilizing the safety of the chapter code to hold out a liquidation the place they may earn their belongings after which distribute the proceeds. “

Pioneer Funding Group is an funding agency based mostly in New York that provides liquidity to collectors of bankrupt corporations.

In 2024, New Day Healthcare acquired Intrepid USA's Hospice actions in Missouri and Texas.

Previous to this sale, Intrepid USA established in Dallas had greater than 60 dwelling well being and hospice areas in 17 states.

In 2023, Intrepid USA generated $ 90 million in revenue and $ 50 million in revenue in 2024, in line with the chapter software. The corporate didn’t generate any revenue within the calendar yr 2025.

“It appears that evidently the corporate was bought and closed earlier than submitting,” stated Stein-Sapir. “This can be a type of scale. The corporate has sure money owed, and the aim of the bankers who submit it’s to resolve persistent money owed which might be due by all these completely different entities.”

Though plainly Intrepid USA has utilized for chapter after the sale of all its belongings, in line with Stein-Sapir, corporations often submit chapter earlier than they full a sale of 363 below the supervision of 363. This permits the corporate to promote the belongings at no cost and free from outdated obligations.

INTREPID USA didn’t reply to HHCN's request for feedback.

Broadly talking, well being care noticed a rise in bankruptcies in 2023 and 2022, though bankruptcies apparently remained low.

Nonetheless, it’s attainable that dwelling corporations have skilled chapter in recent times, however on a a lot smaller scale, in line with Ronald Winters, director of Gibbins Advisors.

“This doesn’t imply that dwelling well being organizations didn’t go bankrupt,” Winters instructed HHCN earlier. “What it may possibly imply is that [the business that filed for bankruptcy] might not have met the scale of the scale. We solely targeted on organizations that had $ 10 million in obligations or extra, which suggests liabilities for workers, suppliers, banks, collectors, all of that. I believe there can be rather a lot [home-based care] Firms which might be below that threshold. “