- H.I.G.-backed firm failed to repay credit facility recently
- Prison service industry faces high labor costs, debt piles
Wellpath Holdings Inc., one of the largest providers of health-care services to prisons and jails across the US, has filed bankruptcy after failing to meet its debt obligations while grappling with high labor costs.
The H.I.G. Capital-backed firm filed for Chapter 11 and listed assets and liabilities between $1 billion to $10 billion each.
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