Carlyle's (CG) LifeCare Holdings, an operator of 27 hospitals in ten states, files for...

|About: The Carlyle Group (CG)|By:, SA News Editor

Carlyle's (CG) LifeCare Holdings, an operator of 27 hospitals in ten states, files for bankruptcy protection. A group of lenders have joined up to make an offer in which they'll forgive LifeCare's debt in exchange for assets. The proposal is the best one that LifeCare has received; a sale would allow it to keep operating and save 4,500 jobs. Carlyle bought LifeCare for $570M in 2005.