HMP WINS SALE OF YEAR AWARD AT 12th ANNUAL TURNAROUND AWARDS

Healthcare Management Partners (HMP) was proud to be a lead part of the award winning team that won SEC.363 SALE OF THE YEAR ($10MM to $25MM) at the 12th Annual Turnaround Awards hosted by The M&A Advisor. The award was earned for the firm’s work on the Sale of Central Iowa Healthcare (CIH) assets to Allen Health Systems, Inc. (UnityPoint). Per The M&A Advisor, its awards are a mark of distinction and the recognition bestowed on the winners is both meaningful and substantive.

Read more on HMP’s work with CIH here:

See the full list of award winners here:

Healthcare Management Partners (HMP) Leads Central Iowa Healthcare (CIH) to Successful Restructuring

Ronald Winters, Managing Director at HMP, spearheaded the restructuring team that kept CIH healthcare services uninterrupted and delivered a favorable outcome to stakeholders.  Healthcare Management Partners (HMP) today announces that a Bankruptcy Court-approved Plan of Liquidation (POL) for its client Central Iowa Healthcare (CIH) became effective on March 2, 2018, concluding the significant elements of CIH’s restructuring.

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HMP’s Ronald Winters speaks to The Bond Buyer about the increase in Chapter 9 bankruptcies for rural hospitals

HMP’s Ronald Winters provided insight for an article examining bankruptcy and the increasing number of rural hospitals declaring bankruptcy.

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Nashville’s healthcare companies set the bar for wellness initiatives

According to a new study from the Nashville Area Chamber of Commerce, unhealthy workers with hypertension and diabetes are costing Nashville-area businesses a whopping $500 million annually. With Nashville firmly established as the healthcare capital of the Southeast, one might think that these companies would place a higher importance on employee wellness than companies in other industries – and they do.  “Healthcare organizations by their nature are dedicated to wellness,” said Scott Phillips, managing director at Nashville-based Healthcare Management Partners. “So as a healthcare organization, it’s the right thing to do to offer wellness programs to employees and encourage them to adopt it.”

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The benefits of bankruptcy? How one hospital found redemption in Chapter 11

HMP Managing Director Ronald Winters provides his insight regarding the recent Chapter 11 filing of Morehead Memorial Hospital. Using Morehead as an example Winters discusses the two main drawbacks of Chapter 11 as the cost and the consequences of not being prepared with a plan.  Winters urges any facility thinking about options like seeking a partner or bankruptcy to do so while they still have some amount of liquidity and unpledged assets .”When you have none left you’re not going to be able to drive an attractive transaction and you run the greatest risk of collapsing,”

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The Single Greatest Hospital Success Indicator

HMP Managing Director Scott Phillips discusses the single greatest indicator of hospital success, system affiliation. Utilizing HMP Metrics, Phillips explains inefficiencies inherent in standalone hospitals, primarily their high labor cost and inefficient management.

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Chapter 9 on the rise

As reported on Becker’s Hospital Review HMP Managing Director Clare Moylan discusses the increasing prevalence of Chapter 9 “Municipal” Bankruptcy. With evidence of increasing financial distress among standalone, government-owned hospitals we can expect to see more Chapter 9 healthcare bankruptcies. The federal government has limited power to interfere with state sovereignty, so there are certain idiosyncrasies to Chapter 9 that make it more favorable for debtors than Chapter 11.

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HMP team assists in securing 25 year lease for Hancock Medical Center

Last year, the board began investigating whether selling Hancock Medical was feasible. The board contracted with Healthcare Management Partners (HMP), a Tennessee-based company, to begin the process of leasing or selling the hospital.  Scott Phillips of HMP said Tuesday that about 110 hospitals and medical providers were identified as potential bidders. Ochsner has committed to invest $33.75 million in lease payments and capital investments into the county and facility and to make efforts to recruit physicians and expand clinical services.

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Accomack nursing home under HMP Receivership to be auctioned in October

Healthcare Management Partners, LLC is the court-appointed receiver for assets belonging to the company that owns Arcadia and Quail Run. The limited liability company was appointed receiver in mid-April, after a civil complaint was filed in United States District Court in Norfolk on March 22. Derek Pierce of Healthcare Management Partners said since he was appointed receiver, his company has “worked to improve performance and operations at the facilities.”

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HMP Leads AHLA’s Webinar on Troubled Hospitals

HMP’s Scott Phillips led the American Health Lawyers Association (AHLA’s) webinar entitled ‘Troubled Hospitals: Hard Choices and Successful Pathways, Part IV: Addressing Post-Deal Challenges”. Joined by other industry experts from Waller, Lansden Dorch & Davis and Jarrard, Phillips, Cate & Hancock, the panelists discussed the key options available to distressed hospitals. The webinar was moderated by Mike Fine from Wyatt, Tarrant Combs.