Envision Healthcare receives interim access to cash collateral

By Sarah Lizee

Olympia, Wash., May 16 – Envision Healthcare Corp. received interim approval to access cash collateral, according to an order filed Monday with the U.S. Bankruptcy Court for the Southern District of Texas.

As previously reported, the company filed bankruptcy on Monday to facilitate a restructuring support agreement with its key stakeholders. The RSA has the support of more than 60% of the company’s roughly $7.7 billion in debt.

The company said it plans to use cash collateral generated by ongoing operations to fund operating expenses, including supplier obligations and employee wages, salaries and benefits during the restructuring process.

Envision is a Nashville-based provider of physician-led services and post-acute care and ambulatory surgery services. The Chapter 11 case number is 23-90342.

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