Thrasys, Inc., A Subsidiary of Debtor UpHealth Holdings, Inc., Files Voluntary Reorganization Under Chapter 11 Of The U.S. Bankruptcy Code
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UpHealth, Inc.'s subsidiary, Thrasys, Inc., has filed for voluntary reorganization under Chapter 11 of the U.S. Bankruptcy Code. This follows UpHealth Holdings, Inc.'s Chapter 11 filing on September 19, 2023. UpHealth, Inc. and its other subsidiaries, Cloudbreak Health, LLC and TTC Healthcare, Inc., have not filed for Chapter 11 protection and continue to operate normally. The company also announced that Behavioral Health Services, LLC, which discontinued operations earlier this year, filed for Chapter 11 protection.
October 20, 2023 | 2:31 pm
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UpHealth's subsidiary, Thrasys, has filed for Chapter 11 bankruptcy. However, UpHealth and its other subsidiaries continue to operate normally.
The bankruptcy filing of Thrasys, a subsidiary of UpHealth, could negatively impact UpHealth's financials and reputation, potentially leading to a decrease in its stock price. However, the fact that UpHealth and its other subsidiaries are continuing to operate normally may mitigate some of this impact.
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