Cerba Healthcare has filed for court-supervised restructuring proceedings in France to address its approximately €5 billion debt burden, according to a document seen by Bloomberg News. The EQT AB-backed private laboratories company is initiating so-called conciliation proceedings at the Tribunal des Activités Économiques de Nanterre, a French commercial court, to establish an appropriate framework for debt discussions. Cerba communicated this in an earnings presentation sent to creditors on Thursday.

The company operates laboratories in locations including St Ouen l'Aumone, France, and is seeking judicial intervention to restructure its substantial financial obligations.