Millennium Health completes restructuring, emerges from Chapter 11 reorganization

By Mark Reccek

Bethlehem, Pa., Dec. 21 – Millennium Health LLC emerged from Chapter 11 reorganization on Dec. 18, according to a Monday press release.

Company chief executive officer Brock Hardaway said the company emerged much stronger, with less debt, new ownership and a more efficient corporate structure due to the restructuring.

“The restructuring provides a much improved balance sheet, greater liquidity and allows the company to put more of the cash it generates toward future growth and success of the business,” Hardaway said. “There remains much uncertainty in our industry, but these changes will afford us the greatest opportunity to be a successful organization for years to come.”

The financial restructuring was completed less than 40 days after the company filed its Chapter 11 cases, the release said.

Millennium is a San Diego-based laboratory-based diagnostic testing provider. The company filed for bankruptcy on Nov. 10 under Chapter 11 case number 15-12284.

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