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.

Healthcare Management Partners expands

Nashville-based Healthcare Management Partners, LLC, a turnaround and consulting firm specializing in health care, has announced the recent addition of Ronald Winters, a nationally recognized leader in health care restructuring, as well as the addition of four professionals in its Nashville-based headquarters.

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HMP as Court Appointed Receiver Discusses Importance of Continuing to Provide High Quality Care During Turnover

HMP Managing Director, Derek Pierce, highlights the importance  of continuing  to provide quality care during a receivership.

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Senior living executive settles in $3.9 million SEC fraud case

The June 9 order continued the receivership of the nine Oxton Senior Living and Manor House Senior Living communities underlying the bond offerings. The communities, which have a combined total of 485 units are under Derek Pierce as Receiver.

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HMP Adds Managing Director

Ronald Winters joins Healthcare Management Partners from Alvarez & Marsal, where he spent the past 17 years and was a managing director. He will be based in New York and work with HMP customers across the country.

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HMP Adds Restructuring Veteran to Healthcare Group, Establishes New York Presence

Over his career, Winters has specialized in advising companies and creditors with healthcare holdings in financial and operational turnarounds and restructurings. In these matters, he is often brought in to act as Chief Restructuring Officer or Chief Operating Officer. He has also had significant experience in labor relations, retiree health and pension matters.

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HMP’s Scott Phillips presents in public forum on the Health of Rural Tennessee

On June 7, 2017, Scott Phillips participated in a public forum in Jackson, Tennessee, on the impact of federal health policy on the health of rural Tennessee. The panel was hosted by The Tennessee Justice Center. The full presentation can be viewed here and a television interview with Scott Phillips is available here.