"Gingrich’s Health Care Think Tank Files For Bankruptcy"
Newt Gingrich’s campaign isn’t the only entity that’s struggling to raise money in what now increasingly looks like the former Speaker’s losing bid to stay relevant. The Atlanta Business Chronicle is reporting that Gingrich’s health care think thank — the Center for Health Transformation — has filed for Chapter 7 bankruptcy. The organization “which has offices in Washington, D.C., Atlanta, and St. Louis, plans to liquidate its assets” and has “listed estimated liabilities of $1 million to $10 million dollars and 50 to 90 creditors.” The filing:
The for-profit Center served approximately 94 health industry corporations and lobby groups, including health insurance (BlueCross BlueShield Association, WellPoint, AHIP, UnitedHealth), health IT (L-3 Enterprise, Microsoft, IBM), and pharmaceutical companies — with each paying up to $200,000 annually. Gingrich touted the organization as a place of innovation and fresh thinking, but came under criticism from conservatives after recordings surfaced of him touting the Affordable Care Act’s individual mandate in a call with health care clients from May 2009. The Center also prominently promoted a federal individual health insurance mandate on its website.