Consulate Health receives court approval to sell assets to Capstone

By Sarah Lizee

Olympia, Wash., Oct. 6 – CMC II, LLC, which does business as Consulate Health Care, received court approval to sell substantially all of its assets to Capstone, the company’s affiliate and debtor-in-possession lender, according to an order filed Wednesday with the U.S. Bankruptcy Court for the District of Delaware.

Capstone’s offer is a credit bid of $5 million of the outstanding balance of the company’s DIP loan.

Consulate Health Care is a Maitland, Fla., senior health care services provider. The company filed bankruptcy on March 1, 2021 under Chapter 11 case number 21-10461.

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