Omnicare, a subsidiary of CVS Health, filed for Chapter 11 bankruptcy protection, the Associated Press reports.
The announcement comes two months after the long-term care business was ordered to pay $949 million when a federal court found it liable for filing fraudulent claims for some prescription drugs.
Omnicare President David Azzolina said in a statement Monday that the lawsuit did not include allegations of harm to Omnicare patients, and that the government did not allege that any patient received anything other than their needed medication.
In its bankruptcy petition, Omnicare — which CVS Health acquired for over $10 billion in 2015 — said that it had up to $10 billion in debt and up to $500 million in assets.
