SIT­U­A­TION

• For­est Park Med­ical Cen­ter (the ​“Com­pa­ny”) was a physi­cian-owned, 54-bed state-of-the-art med­ical facil­i­ty includ­ing 32 pri­vate rooms, 16 fam­i­ly suites and 6 inten­sive care beds. While in oper­a­tion, the Com­pa­ny had approx­i­mate­ly 175 employ­ees includ­ing 115 full-time employ­ees and 60 part-time employees
• Despite increas­ing case vol­ume and grow­ing rev­enue, cash-flow was con­strained dur­ing this crit­i­cal stage of development
• Under­cap­i­tal­ized pri­or to opening
• Col­laps­ing and dys­func­tion­al man­age­ment company
• Chi­ron was engaged as Finan­cial Advi­sor and Invest­ment Banker to pre­serve the val­ue for stakeholders

OUT­COME

• The Com­pa­ny filed for pro­tec­tion under Chap­ter 11 of the U.S. Bank­rupt­cy Code
• Retained by the Com­pa­ny to assist in the explo­ration and pur­suit of strate­gic alter­na­tives includ­ing a refi­nanc­ing, restruc­tur­ing or sale of the business
• Con­duct­ed a com­pre­hen­sive mar­ket­ing process to both strate­gic and finan­cial buy­ers and lenders and held ongo­ing dis­cus­sions with the Company’s var­i­ous stakeholders
• Suc­cess­ful­ly man­aged oper­a­tions and nav­i­gat­ed the Com­pa­ny through Chap­ter 11 and 363 sale to a strate­gic buyer