As a leading U.S. health care law firm, Polsinelli has created a unique group which concentrates on addressing distressed health care scenarios. The team spends its time helping struggling health care companies to identify strategies to maximize value, and to help buyers acquire distressed health care assets or companies.
Efficiency is the key when it comes to fast-moving distress scenarios, and each member of the team has deep experience at the intersection of health care and insolvency. Our team includes lawyers focusing full-time in distressed health care mergers and acquisitions, workouts, restructurings, recapitalization, and financing.
Polsinelli’s Distressed Health Care team’s experience spans the health care industry, including health care services, senior living, life sciences, and technology. Recent engagements involving our lawyers include:
- Representing a private-equity-funded buyer in the largest distressed senior living acquisition of the first half of 2015 ($80+ million)
- Representing a 100-bed acute-care hospital in successful restructuring negotiations as a bridge to a sale preserving significant value for equity
- Representing a rural, non-profit 140-bed continuing care retirement facility in its successful Chapter 11 reorganization
- Representation of a health care company in bet-the-company refinancing of $170 million in three tranches of debt to avoid imminent default
- Representation of a physician billing software company in acquisition of distressed competitor
- Representation of a venture-backed institutional pharmacy in restructuring negotiations with lender and equity sponsors
Recognizing the nature of health care as a fully regulated business, the group works closely with our regulatory lawyers to develop solutions that fit within the complex U.S. regulatory scheme. The members also collaborate with attorneys across the firm’s practices areas, such as tax, employee benefits, real estate and litigation, to provide the specific knowledge and resources necessary to address a health care institution’s challenges, while avoiding loss of efficiency.
Our attorneys counsel companies, funds, debt purchasers in "loan to own" strategies, defendants in avoidance actions (preferences, fraudulent conveyances or other matters), lenders and borrowers, receivers, and Chapter 7 and Chapter 11 trustees in the health care arena. Whether it is a workout, recapitalization or distressed sale transaction, inside or outside of bankruptcy, our attorneys assist clients in making informed decisions and crafting effective approaches regarding their financial situations and business goals.
Our experienced team includes the authors and editors of three books related to health care and/or insolvency, the developers of a financial research index comparing distress in the health care services sector to distress in the overall U.S. economy, a certified Specialist in Business Bankruptcy Law, and members of industry organizations such as the American Health Lawyers Association, the Association for Corporate Growth, the Turnaround Management Association, and the American Bankruptcy Institute.
For more information on our distress index findings, please visit Polsinelli/TrBK Distress Indices or go to www.distressindex.com.