Rotech Healthcare Files for Bankruptcy to Reduce Debt - Businessweek

Rotech Healthcare Files for Bankruptcy to Reduce Debt - Businessweek

Under the proposed reorganization plan, which must be approved by a judge after creditors vote, lenders owed $23.5 million and first-lien noteholders owed $230 million will receive an amended term loan. Second-lien noteholders will get all of the shares in the new Rotech, eliminating more than $300 million in debt, according to a company statement.

Healthcare continues to bleed.( Punt intended )