PlanVista Restructures Debt, Changes Board

NU Online News Service, April 15, 11:14 a.m. – PlanVista Corp., Tampa, Fla., a company that helps run managed care provider networks, says it has restructured $35.5 million in debt and revamped its board of directors.

The company has exchanged $29 million in debt for convertible preferred stock and $6.5 million in subordinated debt for common stock.

The banks have replaced the old debt with a $40 million, two-year term loan, at an interest rate of prime plus 1%, PlanVista says.

PlanVista is also announcing the departure of four directors from its board and the addition of three new directors.