Feeling Distressed? You’re Not Alone

Feeling Distressed? You’re Not Alone

by | Feb 7, 2020 3:18 pm | Hospitals, Long-Term Care

For the past two years, the volume of healthcare deals has soared to new heights. Much of the growth has been powered by financial buyers, private equity firms in particular, piling into the healthcare services sectors. In 2018, a new record for annual deal volume was hit, now standing at 1,917. The services sectors accounted for 65% (1,242 deals), slightly higher than the typical 60% to 62%. Last year’s total deal tally now stands at 1,824 transactions, the second highest total ever recorded, and 70% of that comes from healthcare services deals. Why, then, have Chapter 11 bankruptcy filings among the services sectors spiked along with that activity? Since the second quarter of 2017, the... Read More »

Hutcheson Medical Center Avoids (Permanent) Closure

by | Dec 15, 2015 8:09 pm | Hospitals

Hutcheson Medical Center is back in business, at least on paper. The 114-bed acute care facility in Fort Oglethorpe, Georgia, filed for Chapter 11 bankruptcy protection in November 2014, and was closed on December 4, 2015. There was still some hope that a buyer would emerge before Monday, December 14, when its license was scheduled to expire. At least two bidders showed up on Friday, December 11: Chicago-based People’s Choice Hospital, a boutique company that specializes in managing struggling healthcare systems, placed a $4.0 million bid for the main hospital campus. That was eventually topped by Atlanta-based private investment company, ValorBridge Partners, with a $4.2 million... Read More »