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Healthcare & life sciences coverage - ElevenFlo

Healthcare & life sciences coverage

113 articles

Week of March 16, 2026

NanoString Technologies: Litigation-Driven 363 Sale and $392.6M Bruker Acquisition

NanoString filed chapter 11 in Delaware after 10x Genomics patent litigation strained liquidity. Bruker Corporation won the 363 auction at $392.6M, a 78% premium over the $220M stalking horse. The plan confirmed June 2024 with 100% projected GUC recovery.

Azzur Group: Pandemic Cleanroom Bet Ends in $72M Liquidation

Life sciences consulting and cleanroom provider Azzur Group filed chapter 11 in Delaware after its Baird Capital-backed cleanroom expansion failed post-pandemic. Three 363 sales totaled $72.6M; the confirmed liquidating plan returned ~2.1% to unsecured creditors.

Envision Healthcare: Dual-Silo Chapter 11 Reorganization

Envision Healthcare's chapter 11 reorganized the AmSurg and EVPS silos separately after KKR's 2018 buyout left the physician staffing group overleveraged amid No Surprises Act pressure, reimbursement cuts, labor inflation, and COVID-era disruption.

Amyris Emerges from Bankruptcy After Consumer Brand Sales

Amyris sold its consumer brands and emerged from Chapter 11 in May 2024, retaining its biotechnology platform under ownership of its secured lenders.

InVivo Therapeutics: Failed Trial, Full Creditor Recovery

InVivo Therapeutics filed chapter 11 in Delaware after its INSPIRE 2.0 spinal cord injury trial failed. The cases used a 363 sale to Globus Medical and a liquidating plan that paid creditors in full before a later equity distribution.

Pioneer Health Systems: Confirmed Subchapter V Plan After Failed Sale

Pioneer Health Systems, operating as Direct Orthopedic Care, filed Subchapter V in Delaware on February 21, 2024. This post covers the confirmed plan, failed post-confirmation sale process, DIP financing shifts, and late-case fee and claims disputes.

South Hills Operations: Dual Sale Tracks and Wage Litigation

South Hills Operations filed chapter 11 in the Western District of Pennsylvania after failed nursing-home sale efforts, labor cost pressure, Medicaid reimbursement strain, and Department of Labor wage litigation. The case moved through dual DIP facilities, separate sales, and a liquidating trust.

LaVie Care Centers: From 140 Facilities to Emergence

LaVie Care Centers filed chapter 11 in the Northern District of Georgia after shrinking from roughly 140 facilities to 43 and carrying legacy liabilities from divested operations. The post covers the contested DIP fight, failed sale process, IRS settlement, and June 2025 emergence under Avardis.

Solar Biotech, Inc.: Pictor Sale and Liquidation Trust

Solar Biotech filed chapter 11 in Delaware on June 23, 2024, ran a section 363 sale that ended with Pictor Biotech's $20 million purchase, and later put a liquidating plan into effect on September 30, 2025. The post tracks the sale, DIP financing, and liquidation-trust status.

Guardian Healthcare: 19 Facilities Sold in Chapter 11 Wind-Down

Guardian Healthcare filed chapter 11 in western Pennsylvania on July 29, 2024, sold or transferred 19 skilled nursing facilities, and remains in a wind-down focused on litigation, settlements, and estate administration.

Biolase: MegaGen Sale and Liquidation Plan

Biolase filed chapter 11 in Delaware to sell its business, with MegaGen winning the auction before the estates moved into a confirmed liquidation plan.

Cold Spring Hills Nursing Home Sold to Receiver for $10 Amid $22.6M Philipson Fraud Suit

Cold Spring Hills filed chapter 11 after a $22.6M AG lawsuit over Philipson ownership and alleged fund diversions. A $10 receivership preserved the 588-bed nursing home while unsecured creditors faced a 2% recovery.

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