Health Care

An Update on Chapter 9 Hospital Bankruptcies

The authors are members of Dentons’ Restructuring, Insolvency and Bankruptcy practices. With more than 25 years’ experience representing health care industry stakeholders in complex transactions and high-stakes disputes, Dentons’ dedicated, multidisciplinary Distressed Health Care group brings unparalleled experience to the handling of matters involving financially distressed clients and transactions, in and outside of formal bankruptcy proceedings.

Interview with Clare Moylan, Gibbins Advisors

Clare Moylan is a co-founder of Gibbins Advisors in Nashville, Tenn. She is a health care professional with a broad base of experience that includes operations management, turnaround and restructuring, bankruptcy, strategic planning, business analysis, performance improvement consulting and litigation support. Ms. Moylan’s experience covers the public, private and nonprofit sectors across the health care continuum, particularly primary care, acute care hospitals, nursing homes, hospice, specialty practice clinics, assisted living and home health care.

Health Care Bankruptcy 101: Factors to Consider When Filing a Health Care Bankruptcy Case

Heading into the pandemic, health care was a hot sector in the restructuring landscape. Economic stimulusfunding and a need for health care facilities to address the COVID-19 pandemic led to a slowdown inrestructuring in the sector. However, stimulus funds are now drying up, and health care organizations that were struggling operationally or financially heading into the pandemic are facing even more challenges.

Real Estate Implications of COVID-19 on Senior Living Business Models

The senior living sector, already stressed prior to the pandemic, has been upended by COVID-19. This panel will discuss the effects that COVID-19 has had on operational and financial performance, business models past and future, and the real estate valuations of senior living facilities. The panel will also identify what in-court and out-of-court alternatives exist, and will highlight adaptive reuse opportunities for owners and operators of these facilities.

A Bankruptcy Crisis Hiding in Plain Sight: The Juxtaposition of Failing Health Care Systems with Consumer Patients Driven into Bankruptcy by Medical Debt

This panel will explore industry trends and commonalities between the parallel issues of failing health care systems and debtors bankrupted by medical debt. The panelists will discuss and debate what could happen when these two debtor groups overwhelm the bankruptcy system, the challenges that health care debtors, consumer debtors and insurance payors face today, and how practitioners across various insolvency disciplines involved in these industries can plan for the future with these trends on the horizon.

Look Ahead To 2023: Health Care Committee

The ABI Health Care Committee hosted a panel on to discuss the state and future of the health care industry. Members of the Committee discussed the factors driving distress, including exhaustion of COVID-19 funds, labor shortages, increasing costs, increasing interest rates. The panel also highlighted how these sources of distress will likely lead to an increase in bankruptcies, remedies, and workouts in various health care sub-industries, such as senior living, hospitals, pharmaceuticals, and biotech.

Health Care December 2023

Health Care Committee Co-Chair Corner

As 2022 has come to a close, it is time for the Health Care Committee to look back on an eventful year (for both the committee and the health care restructuring space as a whole). Although 2022 marked the return of live ABI conferences, the trajectory of the health care industry (and thus the committee’s focus) was still linked to the COVID-19 pandemic and its aftereffects.

Health Care CHOWs in Bankruptcy Sales

Businesses that operate a health care ‎facility, provide health care services, or manufacture, distribute or sell health care products may have multiple operating licenses, certifications and billing provider numbers. Sales of these businesses, including in a bankruptcy, triggers a number of change of ownership (CHOW) regulations from various state and federal agencies. Failure to follow such requirements could adversely impact the new ‎owner’s post-closing operations and reimbursement.

Interview with Jeremy Rosenthal of Force 10 Partners

EDITOR’S NOTE: This interview has been edited for length and clarity.

Q: Jeremy, thank you so much for taking the time to talk to us. Just to get started, we wanted to ask about how you became a chief restructuring officer (CRO). What did your career path look like?

A: I started on my current path as a restructuring attorney. I was a partner at Sidley Austin until September 2018, at which point I left to join Force 10 Partners and to move on to the business side of restructuring.