University General Health System, Inc. (fka UGHSQ)

[geopic]

Not the best of news, eh?

University General Health System, Inc. (OTCQB: UGHS)("University General") ("the Company"), a diversified, integrated, multi-specialty health care delivery system, announced today that the Company and certain of its subsidiaries filed voluntary petitions for reorganization under Chapter 11 of the U.S. Bankruptcy Code to facilitate an operational and financial restructuring of the Company. MidCap Financial Trust will provide debtor-in-possession financing to fund ongoing operations. UGHS expects to utilize the Chapter 11 process to reduce its debt and strengthen its balance sheet. The restructuring process will not impact the Company's ability to fulfill its obligations to its physicians, employees or patients.

...late AM, today.
g.p.