Ascencion Medical Center has filed a petition with the U.S. Bankruptcy Court for the Southern District of Florida seeking bankruptcy protection. The Miami-Dade County medical facility filed for Chapter 11 bankruptcy to restructure its growing debt.
Ascencion Medical Center Petitions for Bankruptcy Protection
According to the official filing, Ascencion Medical Center, the healthcare provider’s estimated assets are between $0 and $50,000. Its liabilities are reported in the same range.
According to the filing, the Miami-based medical center lists between one and 49 creditors.
Attorney Carlos E. Sardi of Sardi Law PLLC represents the medical center in the proceedings. The filing identifies Ascencion Medical Center as a small business debtor under 11 U.S.C. §101(51D). The Miami clinic, a small business debtor, prepares to proceed under Subchapter V of Chapter 11.
The filing notes uncertainty about the clinic’s ability to repay unsecured creditors after covering administrative expenses.
The Miami clinic offers a range of health-related services for residents. Owner and administrator Guido Lopez opened the facility in 2020. The healthcare facility in the Florida city provides many services for everyone, including children and older adults.
Its services include physical therapy, aesthetic medicine, diagnostic imaging such as X-rays and ultrasounds, family medicine, and weight management. In addition to diagnostics and treatment, the clinic offers preventive care for the Miami community.
With the filing, the Miami clinic aims to continue operations while reorganizing its debts. The court will oversee the process as Ascencion Medical Center develops a reorganization plan to address its financial challenges.
