Jordan Health Products I, Inc. (d/b/a Avante Health Solutions) and 11 affiliates filed for Chapter 11 protection on October 8, 2024 in the U.S. Bankruptcy Court for the District of Delaware (Case No. 24-12271) before Judge Thomas M. Horan. Avante, a value-based provider of medical capital equipment with over 35 years in the industry, operated four divisions—ultrasound, medical/surgical, patient monitoring, and diagnostic imaging—serving more than 10,000 healthcare customers with approximately 361 employees and $145.9 million in FY2023 revenue. The filing was driven by prolonged Philips Medical Systems litigation that cost approximately $20 million over several years, credit facility defaults under a July 2021 agreement with $87.1 million in funded debt outstanding, and an inability to secure a stalking-horse buyer despite an extensive marketing process led by Livingstone Partners. AHS Acquisition Holdings, LLC (a Staple Street Capital affiliate managing approximately $900 million in assets) provided a $3.5 million DIP term loan at 15% interest with no roll-up, structured around sale milestones. D.R.E. Medical assets were sold to DRE Resume, LLC for $3.3 million base plus deferred collections (approved November 12, 2024), followed by a global 363 sale of substantially all remaining assets to AHS Acquisition Holdings via a $72.5 million credit bid plus assumption of DIP obligations (approved December 10, 2024). The cases were converted to Chapter 7 on June 24, 2025, with Jeoffrey Burtch appointed as trustee to administer remaining estate assets.
