Additional Parts of Insolvent Billing Service Provider AvP Rescued – Noventi Health Takes Over Billing with Hospital Pharmacies
October, 2020 - Germany
In mid-September, billing service provider AvP Deutschland GmbH, advised by Heuking had filed for insolvency at Düsseldorf Local Court, which appointed Dr. Jan-Philipp Hoos as preliminary insolvency administrator.
At the end of September, additional companies of AvP group, AvP Dienstleistung GmbH and holding company AvP Service AG, filed for insolvency.
AvP Deutschland GmbH has now achieved another, extremely quick partial success in maintaining one of the billing divisions: with the approval of AvP’s preliminary creditors’ committee, Noventi Health is taking over its billing business with hospital pharmacies. Heuking advised AvP on the takeover with a team led by Dr. Johan Schneider from Hamburg, thus assisting in continuing the hospital business.
Noventi Health was the best bidder for this very important area for AvP. Headquartered in Munich, the company with more than 1,000 employees is a provider of billing, financial, and IT services for pharmacies and other service providers.
The search for investor solutions is continuing for other divisions of insolvent AvP.
Counsel to AvP Deutschland GmbH
Heuking Kühn Lüer Wojtek:
Dr. Johan Schneider (Lead, Insolvency law),
David Loszynski (Insolvency law, M&A),
Dr. Martin Schellenberg (Public Procurement),
Dr. Markus Wulf (IT, Data Protection), all Hamburg
