Wellpath Reaches Agreement with UCC on Chapter 11 Plan and Swift Timeline for Emergence from Bankruptcy

Unsecured creditors encouraged to vote in favor of the Amended Plan

Confirmation hearing scheduled for April 30

Wellpath and certain of its affiliates (“Wellpath” or the “Company”), the nation’s leader in providing compassionate medical healthcare to vulnerable patients in challenging clinical environments, announced today that it has reached a global settlement with the Statutory Unsecured Claimholders’ Committee (the “Committee” or “UCC”) and its Ad Hoc Lender Group on a consensual Plan of Reorganization (the “Plan”).

Following productive engagement with the Ad Hoc Lender Group and the Committee, Wellpath will file an amended Plan consistent with the global settlement. The agreement and amended Plan resolve the Committee’s opposition to the Plan and pending settlement between Wellpath and its existing financial sponsor. Accordingly, the Committee is now encouraging all general unsecured creditors to vote in favor of the amended plan ahead of the April 22, 2025 voting deadline.

“We have worked extensively alongside our lenders and the Committee to develop a Plan that provides the best outcome for all stakeholders,” said Ben Slocum, Chief Executive Officer of Wellpath. “We are grateful to the parties for their cooperation, which has allowed us to reach this milestone and move forward. We are nearing the finish line and look forward to emerging from this process in the best position possible to fulfill our mission. As we take these final steps, we will continue prioritizing our clients and patients, as we meet our obligations to our partners and continue to put patient care first.”

The settlement clears the path for Wellpath’s amended Plan to be heard by the Court at the Confirmation Hearing on April 30, 2025, supported by the Company’s major stakeholders.

Upon confirmation and effectiveness of the plan, Wellpath will formally complete its Chapter 11 process with a strengthened financial foundation and significantly less debt, which will position the Company for long-term success.

McDermott Will & Emery is Wellpath’s legal counsel, Lazard and MTS Health Partners are its investment bankers, and FTI Consulting is its restructuring advisor.

ABOUT WELLPATH

Wellpath is the premier provider of quality, localized, patient-focused healthcare to local, state, and federal correctional facilities. We hold patients at the center of everything we do and promote rigorous standards of care and innovation. With an extensive network of more than 14,000 clinicians and professionals in thirty-seven states across the U.S., Wellpath provides medical and mental healthcare services to over 200,000 patients daily in more than 350 locations. Learn more about our comprehensive correctional healthcare solutions at wellpathcare.com

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