ELNA Medical Group, a Montreal-based company that bills itself as Canada’s largest network of medical clinics, has entered creditor protection.
The application was granted in Quebec Superior Court. ELNA also received court approval to solicit interest in a potential sale.
ELNA’s network includes family medicine and specialty clinics, as well as diagonistic laboratories. The clinics are privately owned and run, but many of their services are covered by public health insurance.
The development raises questions about the future of ELNA and the services it provides patients.
In all, ELNA has more than 100 clinics in five provinces serving more than three million Canadians, according to its website.
Laurent Amram, president and founder of ELNA Medical Group, said the move was made in attempt to strengthen its “financial stability” and ensure “uninterrupted care for our valued physicians, health-care professionals, and patients.”
“We are confident that this restructuring will enhance our ability to innovate, accelerate the transformation of the health-care sector, and ensure sustainable growth for long-term success,” Amram said in a statement.
ELNA has a particularly strong foothold in Quebec. In February, ELNA announced a major expansion with the acquisition of the Brunswick Health Group, a large network of clinics headquartered in Montreal’s West Island.
It also recently acquired clinics in the Quebec City area.
This story is developing and will be updated.