American Physician Partners Files Chapter 11 Petitions as it Finalizes Orderly Wind Down

BRENTWOOD, Tenn. ~ American Physician Partners, LLC ("APP") and certain of its affiliates have announced that they have voluntarily filed for Chapter 11 protection under the U.S. Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware (the "Court"). This filing is to complete the orderly wind down of its business affairs following the transition of its clinical operations.

The management team, advisors, and board of APP have been focused on minimizing disruption for its hospital and health system clients, patients, physicians, clinicians, and employees while maximizing value for its creditors and other stakeholders. The transition was completed on July 31st 2023 with no interruption to patient care and APP satisfied or arranged for the satisfaction of significant obligations of the Company.

APP has filed customary "First Day Motions" with the Court to facilitate a smooth transition into Chapter 11 which includes requests to continue to pay wages and honor benefits in the ordinary course. The Company is also seeking Court approval to consensually use cash collateral to fund its orderly wind down during the Chapter 11 cases. The Company intends to seek confirmation of a Plan of Liquidation by the Court to complete an orderly and efficient wind down of its business affairs.

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Throughout this process, APP has prioritized minimizing disruption for their valued hospital and health system partners as well as their communities they serve while advocating for their valued team serving patients and supporting clinicians during difficult market conditions. APP extends their deepest gratitude to their dedicated physicians, clinicians, employees, and partners who have been part of their journey.

Court filings and additional information related to APP's Chapter 11 cases are available on a separate website administrated by Epiq Corporate Restructuring LLC at https://dm.epiq11.com/AmericanPhysicianPartners or by calling 877-637-5041 or +1-503-917-3153 if calling from outside the U.S or Canada or emailing AmericanPhysicianPartners@epiqglobal.com . Pachulski Stang Ziehl & Jones LLP and Bass Berry & Sims PLC are serving as legal counsel while John DiDonato from Huron Consulting Group is serving as Chief Restructuring Officer of the Company with C Street Advisory Group LLC acting as strategy and communications advisor.

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