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Alert
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June 11, 2012
Arent Fox Distressed Health Care Report | Iss. 1, Vol. 1
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.
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Recent Bankruptcy Filings
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Debtor
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Bankruptcy Court
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Type of Business
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Reported Assets*
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* Assets reported in USD
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American Home Medical Equipment, Inc.
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Louisiana, Western District (Shreveport)
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Medical supply equipment for home use (wheelchairs, etc.)
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$0 to $50,000
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All Specialized Care & Health Services Inc
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Puerto Rico (Old San Juan)
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Medical services
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$189,545.82
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Sierra Blanca Rehabilitation LLC
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Arizona Bankruptcy Court (Phoenix)
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In and out-patient rehabilitation; Skilled Nursing Services; Behavioral Management (secure area); Dementia and Alzheimer care (secure area)
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$1,000,001 to $10 Million
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Galloway Medical Center Ltd.
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Northern District of Texas (Dallas)
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Medical services
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$1,805,850.70
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Galaxy MRI and Diagnostic Center Ltd.
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Northern District of Texas (Dallas)
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Diagnostic Imaging
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$259,140.32
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J. Teig Port M.D., P.A. dba Orthopaedic Center of Mesquite
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Northern District of Texas (Dallas)
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General and Pediatric Orthopaedic care
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$874,561.61
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Port Management LLC
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Northern District of Texas (Dallas)
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Related to Galloway Medical Center, Galaxy MRI and Diagnostic Center and J. Teig Port, M.D., P.A.
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$14,979.49
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Red River Healthcare, LLC
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Eastern District of Kentucky (Lexington)
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Internal Medicine
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$100,001 to $500,000
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Asthma and Allergy Center, LLC
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Eastern District of Kentucky (Pikeville)
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Allergy and Immunology; Pediatrics
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$100,001 to $500,000
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Pediatric Associates of Hazard dba Mountain Village Heathcare
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Eastern District of Kentucky (London)
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Pediatrics
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$100,001 to $500,000
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Pediatric Associates of Pikeville, LLC dba Pediatrics Associates
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Eastern District of Kentucky (Pikeville)
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Pediatrics
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$100,001 to $500,000
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Aaron K. Jonan Memorial Clinic, Inc.
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Eastern District of Kentucky (Lexington)
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Internal Medicine; Geriatrics; Pharmacy; Nutrition
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$100,001 to $500,000
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Dexter Professional Park, LLC
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Eastern District of Texas (Sherman)
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Medical offices
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Not listed
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Dexter Professional Park Partners LP
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Eastern District of Texas (Sherman)
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Medical offices
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Not listed
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Recently Completed Sales
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Company
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Bidder/Amount*
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Dates
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* Amount reported in USD
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Church Street Health Management LLC
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Garrison Investment Group
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Sale approved: May 24
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All assets
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$25 million credit bid |
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St. Mary of the Woods Inc.
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Orion Care Services LLC affiliate
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Sale approved: April 20
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Ohio retirement community
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$18.8 million |
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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.
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