Specialty Hospitals of Washington, D.C., said yesterday that it has exited bankruptcy protection under the ownership of hedge fund Silver Point Capital and new Chief Executive Marc Ferrell, Dow Jones Daily Bankruptcy Review reported today. Silver Point purchased Specialty Hospitals' long-term acute care and nursing homes after buying up $40 million in the company's debt at a discount earlier this year. Specialty Hospitals entered chapter 11 bankruptcy in April after negotiating a sale to Silver Point Capital. The hospital chain was facing an involuntary bankruptcy filing brought by a group of creditors.
