MModal Holdings’ Second Amended Joint Plan of Reorganization became effective, and the Company emerged from Chapter 11 protection. The Court confirmed the Plan on July 21, 2014. Duncan James, MModal’s chief executive officer, comments, “With renewed financial strength, MModal is firmly positioned to deliver the highest quality and most advanced clinical documentation to hospitals and physician practices. Our new capital structure will better support MModal’s continued investment in delivering innovative transcription, coding and speech technology solutions, and will provide a stronger foundation to execute on our strategic plans.” As previously reported, “[T]his financial restructuring will strengthen the Company’s balance sheet by reducing its debt by more than 55%.” This health care-related data preparer filed for Chapter 11 protection on March 20, 2014, listing $627 million in pre-petition assets.
About Ben Schlafman
Ben Schlafman is a University of Rhode Island graduate in Political Science and Marketing who got his start selling and promoting bankruptcy and distressed data products for New Generation Research, Inc. With over 8 years of hands on experience in the bankruptcy and distressed sectors, Ben writes, manages and supports an array of restructuring products under the New Generation Research umbrella.