client_transactions

SSG Client Transactions

Title

Forest Park Medical Center at Fort Worth, LLC
Client Profile

Client Profile

Forest Park Medical Center at Fort Worth, LLC (“Forest Park – Fort Worth” or the “Company”) is a physician-owned, Texas limited liability company that operated a 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.
Situation

Situation

After opening in November 2014, Forest Park - Fort Worth experienced increasing case volume over the course of 2015. Despite volume improvement, the Company's cash flow was constrained during this critical stage of development. In order to preserve the value for stakeholders, Forest Park - Fort Worth filed for protection under Chapter 11 of the U.S. Bankruptcy Code in January 2016. SSG was retained by the Company to assist in the exploration and pursuit of strategic alternatives including a refinancing, restructuring or sale of the business. SSG conducted a comprehensive marketing process to both strategic and financial buyers and lenders and held ongoing discussions with the Company's various stakeholders.
Solution

Solution

The Company's real estate lessor, FPMC Fort Worth Realty Partners, LP ("Propco"), filed for protection under Chapter 11 in November 2015. An auction for Propco's assets, including the Forest Park - Fort Worth facility, was held in May 2016. THR was ultimately the successful bidder and entered into a purchase and sale agreement for Propco's assets. In conjunction with the acquisition of Propco's assets, THR entered into the settlement agreement with Forest Park - Fort Worth as described above.
June 2016
has entered into a settlement agreement with
which allows THR to take full control of the facility and begin operations
Effectuated in the U.S. Bankruptcy Court for the
Northern District of Texas
The undersigned acted as Investment Bankers
to Forest Park Medical Center at Fort Worth, LLC
on this transaction

Call to learn more

Call to learn more

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