Healthcare Restructuring
The National Healthcare Restructuring Practice Group assists clients experiencing significant financial or operational issues requiring strategic legal advice or seeking acquisition opportunities in this current challenging environment. Our clients include hospitals and healthcare systems (for-profit and tax-exempt), long-term care facilities, surgicenters, imaging centers, physician practices and ventures, investors, and healthcare technology companies.
Our services include:
- Refinancings
- Recapitalizations
- Negotiation of new arrangements with investors, lenders, landlords, vendors, unions, payers and other third parties
- Reorganizations
- Mergers, acquisitions, dispositions, joint ventures, and other transactions related to a reorganization
- Business protection, including consensual, out-of-court restructurings and chapter 11 filings
Our healthcare restructuring team draws primarily upon the experience of our Business Restructuring Department and Healthcare Practice Group, both of which provide services nationwide. The team is also able to call upon other relevant practice areas to provide clients with a full range of services to address complex and high-stakes business and legal issues. The group's attorneys understand the healthcare marketplace and the various factors which impact the financial and operational viability of healthcare companies. Our experience working with healthcare companies to address problems, including substantial experience assisting distressed healthcare companies through the chapter 11 process, enables us to identify and implement reorganization action plans. We work effectively with a client's other advisors to provide practical, timely solutions.
Representative healthcare restructuring projects include the following:
- Representation of creditors' committee in healthcare chapter 11
- Ongoing representation of hospital systems currently operating in chapter 11
- Representation of a nursing home chain in chapter 11, which culminated with the successful 363 sale of the client's facilities
- Representations of separate multi-location laser surgery centers in successful debt restructuring and in a wind down that enabled the owners to avoid personal liability
- Representation of a plastic surgery center in the wind down of operations and transition of practice to another facility
- Representation of a struggling medical laboratory in forbearance agreement with bank lender, obtaining replacement of its bank line of credit, exploration of strategic alternatives and representation of its company in its ultimate sale to investor group
- Representation of a hospital in the sale of its home health care business.