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Blackstone and KKR to Cut Affordable Care Debt by 70% in Restructuring
Direct lenders Blackstone and KKR will assume control of the struggling dental business Affordable Care and cut about 70% of its debt under a restructuring agreement. The move was reported by a source to @business. It marks a significant shift in ownership for the company.
May 14, 5:14 PM·1m read1 source
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Direct lenders including Blackstone and KKR are set to take control of struggling dental business Affordable Care and slash about 70% of its debt as part of a restructuring agreement, according to a source. The information about the restructuring of Affordable Care comes from a source that described the transaction to @business.
The debt slashing and transfer of control form the core of the agreement between the parties.
The restructuring will hand majority ownership to the direct lenders, including Blackstone and KKR, while sharply reducing the company's overall debt load by about 70 percent. @business reported that the transaction is expected to close in coming weeks, though specific timing details were not disclosed by the source.
The agreement reflects ongoing challenges in the dental services sector where several chains have faced debt pressures in recent years. No further details on the company's valuation before or after the restructuring were provided. The source did not comment on potential impacts to operations or employees at Affordable Care.
