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Case Studies

Century Care of America, Inc.

Healthcare

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SIT­U­A­TION

  • Based in Hous­ton, Texas, Cen­tu­ry Care of Amer­i­ca (the ​“Com­pa­ny’) owned five skilled nurs­ing and long-term health facil­i­ties through­out the State of Texas
  • The Com­pa­ny pro­vid­ed health­care ser­vices pri­mar­i­ly through third-par­ty admin­is­tra­tion of skilled nurs­ing ser­vices under Medicare and long-term care ser­vices under Medicaid
  • In addi­tion, pri­vate insur­ance and hos­pice ser­vices account­ed for a mod­est share of the Com­pa­ny’s aver­age dai­ly census
  • Chi­ron was retained by the Offi­cial Com­mit­tee of Unse­cured Cred­i­tors to eval­u­ate the Com­pa­ny’s oper­a­tions and finan­cial con­di­tion and to eval­u­ate and devel­op alter­na­tives to the Com­pa­ny’s pro­posed plan of reorganization
  • The Com­pa­ny did not employ an advi­sor in the Chap­ter 11

OUT­COME

  • Chi­ron arranged the sale of the Com­pa­ny to achieve an ini­tial full recov­ery to unse­cured creditors

Century care logo

The Challenge

The Company did not employ an advisor in the Chapter 11.

The Chiron Solution

Chiron was retained by the Official Committee of Unsecured Creditors to evaluate the Company's operations and financial condition and to evaluate and develop alternatives to the Company's proposed plan of reorganization.

The Result

Chiron arranged the sale of the Company to achieve an initial full recovery to unsecured creditors.

Meet Our Author

Bio photo jay krasoff

Jay Kra­soff

Founder | Managing Director

Mr. Krasoff is a founder of Chiron Financial and is responsible for the strategic direction of the firm and corporate growth.

View Bio

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