The Adeptus Health saga is about to enter a new chapter — Chapter 11. Hedge fund Deerfield Management will buy Adeptus' debt and push the emergency room operator through bankruptcy, the companies said Tuesday.

Deerfield, which owns 10% of Adeptus, also agreed to make rent and lease payments to Medical Properties Trust, which owns Adeptus' emergency room properties. Adeptus defaulted on loan payments that were due March 31, but Deerfield plans on waiving the default and pouring more money into Adeptus' facilities to keep them operating.

The bottom line: Adeptus, which pondered a sale last month, is a shell of itself. And it's not clear how Deerfield's restructuring plan will change Adeptus' underlying financial problems with its emergency rooms.

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Updated 1 hour ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Health: Large coronavirus outbreaks leading to high death rates — Coronavirus cases are at an all-time high ahead of Election Day — Fauci says U.S. may not return to normal until 2022
  2. Politics: Space Force's No. 2 general tests positive for coronavirus
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  4. Europe faces "stronger and deadlier" wave France imposes lockdown Germany to close bars and restaurants for a month.
  5. Sports: Boston Marathon delayed MLB to investigate Dodgers player who joined celebration after positive COVID test.
Caitlin Owens, author of Vitals
1 hour ago - Health

Large coronavirus outbreaks leading to high death rates

Data: The COVID Tracking Project; Chart: Sara Wise/Axios

Many of the states where coronavirus cases have recently skyrocketed are also seeing the highest death rates in the nation, a painful reminder that wherever the virus goes, death eventually follows.

Between the lines: Deaths usually lag behind cases by a few weeks. Given America's record-high case counts, it's reasonable to expect that death rates across the country will continue to rise in tandem.

Amy Harder, author of Generate
2 hours ago - Science

Pandemic scrambles Americans' acceptance of science

Illustration: Sarah Grillo/Axios

The pandemic is throwing a wrench into Americans' understanding of science, which has big implications for climate change.

Driving the news: Recent focus groups in battleground states suggest some voters are more skeptical of scientists in the wake of the coronavirus pandemic, while surveys reveal the persistence of a deep partisan divide.

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