April 3, 2018
CCS Oncology’s difficulties emerged publicly in July 2016, when Independent Health announced it was dropping CCS from its provider network.
CCS Oncology, the financially battered private cancer practice that is under federal investigation, has filed for voluntary bankruptcy protection, according to court records.
The company said that the filing positions it to continue to serve its oncology patients with no interruption to the practice’s day-to-day operations. CCS said in a statement Monday afternoon it would refocus on its core mission of providing radiation and medical oncology treatments while transitioning away from its CCS Healthcare operations.
“We are now undertaking financial restructuring, through which we expect to achieve long-term financial sustainability and the flexibility to serve the community,” the company said in the statement.
CCS Oncology, several related companies and CCS’ CEO, Dr. W. Sam Yi, filed for Chapter 11 bankruptcy protection in U.S. Bankruptcy Court in Buffalo on Monday.