As the largest health care law firm in the United States, Polsinelli has used its national platform to create a unique, cross-disciplinary group that concentrates exclusively on distressed health care situations. The multi-disciplinary team – which includes corporate, restructuring, regulatory, real estate, and health care attorneys - focuses on helping struggling health care companies identify and implement strategies to maximize value and preserve operations, and helping buyers acquire distressed health care assets or companies.
Speed and cross-disciplinary expertise is 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 focuses full-time on the many overlapping aspects of distressed health care, handling emergency mergers and acquisitions, workouts, restructurings, recapitalizations and refinancings.
Polsinelli’s Distressed Health Care team’s experience spans the health care industry, including senior housing and post-acute care, rural and safety net hospitals, acute care facilities, health care services, life sciences and technology. Recent engagements for the distressed health care practice group include:
- Chapter 11 debtor’s counsel to Senior Care Centers, the largest skilled nursing operator in Texas with over 100 facilities (2018-19).
- Chapter 11 debtors’ counsel to EBH Topco, LLC and Elements Behavioral Health, a leading national provider of behavioral health services (National 2017-18).
- Chapter 11 debtors’ counsel to Curae Health, Inc., a not for profit rural health care company operating a chain of rural safety net hospitals (Southeast 2018-19).
- Chapter 11 debtor’s counsel and corporate counsel to Clare Oaks, a not for profit, 41 acre continuing care retirement community (Illinois 2019).
- Counsel to Welcov Healthcare in the emergency transfer of over twenty skilled nursing facilities and subsequent consensual corporate dissolution proceedings (Minnesota 2018).
- Counsel to a private equity fund in the multi-state, 65 facility receivership of Fortis Management Group and its affiliates (National 2017-19).
- Counsel to Kindred Healthcare in its acquisition of LTAC assets from the Promise Healthcare Chapter 11 proceedings (National 2018-19).
- Counsel to a private-equity-funded buyer in the acquisition of four CCRC facilities out of the Sears Methodist Chapter 11 in Texas for more than $80 million (2014-15).
Believing that proprietary market intelligence is one of the most important services that a law firm can provide to clients, Polsinelli owns and publishes the quarterly Polsinelli/TrBK Health Care Services Distress Research Index (www.distressindex.com), comparing distress in the health care sector to distress in the overall US economy. The Index is regularly cited by Bloomberg, The Wall Street Journal, Modern Healthcare and Healthcare M&A News, among others.
Recognizing the nature of health care as a fully regulated business, our team works closely with our regulatory lawyers to develop solutions that fit within the complex U.S. regulatory scheme. Team 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 efficiently address a health care institution’s challenges.
Our attorneys counsel health care providers, private equity funds, landlords and purchaser’s in the distressed health care arena. Whether it is a workout, Chapter 11 reorganization proceeding, recapitalization or distressed sale transaction, 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, editors of the health care columns for The Journal of Corporate Renewal and The ABI Journal 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.