Miami Beach, Fla.-based Clinical Care Medical Centers has entered into an agreement with Conviva, a subsidiary of Humana, for $45 million after the medical group sought Chapter 11 protection Oct. 13, according to an Oct. 15 statement shared with Becker's.
"The [Chapter 11] filing has the support of CCMC’s lenders who have agreed to provide a $10 million credit facility to fund CCMC’s operations and other administrative expenses," Paul McBride, CEO of Clinical Care Medical Centers, said in the statement. "We expect that CCMC’s operations will not be affected by the filing."
Clinical Care Medical Centers comprise more than 25 centers across Florida and offers over 10,000 patient services and specialties, according to its website.
Conviva operates more than 300 locations across 15 states under the Conviva and CenterWell Senior Primary Care brands, Mr. McBride said in the statement.
"Upon transaction close, which is expected to occur in the next 60 days … CCMC operations will be integrated into CenterWell’s Primary Care Organization," a spokesperson for Humana said in an Oct. 14 statement shared with Becker's.
While CCMC goes through the bankruptcy process, both the medical care group and Conviva are working to ensure continued patient care.