Case filing & court posture: Omnicare, LLC and 110 affiliated debtors, indirect subsidiaries of CVS Health Corporation, filed chapter 11 petitions on September 22, 2025 in the Northern District of Texas (Case No. 25-80486). Dkt. 1 The case was reassigned to Judge Stacey G. Jernigan following a recusal on September 24, 2025. Dkt. 56 The filing was driven by a nearly $1 billion False Claims Act judgment arising from a 2015 qui tam lawsuit, with the debtors carrying no material prepetition funded debt.
Liquidity & financing path: The debtors obtained a $110 million DIP credit facility, with interim approval granted on September 24, 2025 Dkt. 69 and final approval on November 3, 2025. Dkt. 257 On January 30, 2026, the debtors moved to amend the DIP agreement to extend the stalking horse milestone to March 31, 2026 and the maturity date to August 31, 2026. Dkt. 527
Sale process: The Court approved bidding procedures on December 3, 2025. Dkt. 398 The approved timeline sets a bid deadline of March 13, 2026, an auction on or before March 19, 2026 (if necessary), and a sale hearing on April 14, 2026.