Pathway Health Corp. (TSV: PHC) and Pathway Health Services Corp., Interim Receivership

Pathway Health Corp. (TSV: PHC) and its wholly owned subsidiary Pathway Health Services Corp. (collectively, the “Companies”), which operate as an integrated healthcare company that provides products and services to patients suffering from chronic pain and related conditions, were placed into interim receivership on August 12, 2023, on application by Avonlea-Drewry Holdings Inc. The Companies have defaulted on their loan from Avonlea-Drewry, owed over $5.4 million. The Companies’ management teams and boards resigned on July 28. The principal purpose of the interim receivership is for the Interim Receiver to oversee, safeguard, and preserve the Companies’ business and operations while it continues to operate in the normal course while they develop a potential sale or restructuring plan. KSV was appointed as Interim Receiver, represented by BD&P. Dentons is counsel to Avonlea-Drewry.

By: Dina Milivojevic