APACHE JUNCTION HOSPITAL - CASE STUDY
Industry: Healthcare Facilities
Transaction Type: Chapter 11 Liquidation
COMPANY DESCRIPTION
Apache Junction Hospital, LLC, d/b/a Arizona Regional Medical Center Inc., was a full-service hospital operator, with one hospital operating in Pinal County, Arizona, and another in Maricopa County, Arizona.
SITUATION OVERVIEW
In light of garnishment proceedings and aggressive actions of several of the Company’s creditors, Apache Junction Hospital, LLC filed for chapter 11 bankruptcy in the District of Arizona in October 2013.
EMERALD SOLUTION
In connection with the chapter 11 filing, Emerald was previously retained as the exclusive financial advisor to the Official Committee of Unsecured Creditors of Apache and is currently retained as the Trustee to the Liquidation Trust. As the financial advisor to the Official Committee of Unsecured Creditors, Emerald focused on the following action items:
- Assessing the Company’s liquidity situation.
- Implementing cost-cutting measures to maximize recoveries for the unsecured creditors.
- Evaluating the Company’s proposed Plan and Disclosure Statement.
TRANSACTION RESULTS
As a result of Emerald’s involvement, the following outcomes were successfully achieved, including:
- A Trust structure was created to effectuate the Plan and make distributions.
- The size of the unsecured claims pool was meaningfully reduced.
