by DLA Piper - Thomas Califano, Partner
Over the last several years, a wide range of healthcare companies, among them hospitals, home health agencies and continuing care facilities, have faced financial distress as a result of declining revenues, high operating costs, reduction in reimbursements rates and increasing competition. Seeking relief, many hospitals and other healthcare companies are commencing chapter 11 cases and selling their assets to third parties in order to shed liabilities and facilitate an orderly transfer of their assets. Fairmont General Hospital, Saint Francis Hospital, Natchez Regional Medical Center and Sound Shore Medical Center are just a few of the hospitals that have recently filed for bankruptcy, selling (or are seeking to sell) all or a portion of their assets to third parties.
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