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    Arent Fox Distressed Health Care Report | Iss. 1, Vol. 1

    June 11, 2012

    Arent Fox attorneys have significant experience advising parties with respect to the workout and restructuring of health care institutions and health care related companies, as well as the acquisition, sale, and financing of distressed health care entities. We regularly monitor not only cutting edge developments in health care and bankruptcy law, but we stay abreast of the health care-related bankruptcy filings and asset sales across the country. Following is a listing of just a few recent filings and pending sales.

     

    Recent Bankruptcy Filings

     

    Debtor

    Bankruptcy Court

    Type of Business

    Reported Assets*

    * Assets reported in USD

    American Home Medical Equipment, Inc.

    Louisiana, Western District (Shreveport)

    Medical supply equipment for home use (wheelchairs, etc.)

    $0 to $50,000

    All Specialized Care & Health Services Inc

    Puerto Rico (Old San Juan)

    Medical services

    $189,545.82

    Sierra Blanca Rehabilitation LLC

    Arizona Bankruptcy Court (Phoenix)

    In and out-patient rehabilitation; Skilled Nursing Services; Behavioral Management (secure area); Dementia and Alzheimer care (secure area)

    $1,000,001 to $10 Million

    Galloway Medical Center Ltd.

    Northern District of Texas (Dallas)

    Medical services

    $1,805,850.70

    Galaxy MRI and Diagnostic Center Ltd.

    Northern District of Texas (Dallas)

    Diagnostic Imaging

    $259,140.32

    J. Teig Port M.D., P.A. dba Orthopaedic Center of Mesquite

    Northern District of Texas (Dallas)

    General and Pediatric Orthopaedic care

    $874,561.61

    Port Management LLC

    Northern District of Texas (Dallas)

    Related to Galloway Medical Center, Galaxy MRI and Diagnostic Center and J. Teig Port, M.D., P.A.

    $14,979.49

    Red River Healthcare, LLC

    Eastern District of Kentucky (Lexington)

    Internal Medicine

    $100,001 to $500,000

    Asthma and Allergy Center, LLC

    Eastern District of Kentucky (Pikeville)

    Allergy and Immunology; Pediatrics

    $100,001 to $500,000

    Pediatric Associates of Hazard dba Mountain Village Heathcare

    Eastern District of Kentucky (London)

    Pediatrics

    $100,001 to $500,000

    Pediatric Associates of Pikeville, LLC dba Pediatrics Associates

    Eastern District of Kentucky (Pikeville)

    Pediatrics

    $100,001 to $500,000

    Aaron K. Jonan Memorial Clinic, Inc.

    Eastern District of Kentucky (Lexington)

    Internal Medicine; Geriatrics; Pharmacy; Nutrition

    $100,001 to $500,000

    Dexter Professional Park, LLC

    Eastern District of Texas (Sherman)

    Medical offices

    Not listed

    Dexter Professional Park Partners LP

    Eastern District of Texas (Sherman)

    Medical offices

    Not listed

     

    Recently Completed Sales

     

    Company

    Bidder/Amount*

    Dates

     

    * Amount reported in USD

     
     

    Church Street Health Management LLC

    Garrison Investment Group

    Sale approved: May 24

    All assets

    $25 million credit bid  

    St. Mary of the Woods Inc.

    Orion Care Services LLC affiliate

    Sale approved: April 20

    Ohio retirement community

    $18.8 million  

     

    This report is provided exclusively to our firm's clients and certain investors, developers, lenders, and entities with which we have a relationship. For additional information about any of the cases listed above, please contact Mette Kurth, Thomas Jeffry, or Jill Steinberg.

    Related People

    • Thomas E. Jeffry Jr.
    • Mette H. Kurth
    • Jill A. Steinberg

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