$15.4 Million Nonprofit Hospice And Home Health Agency

The restructuring firm contacted Andre Ulloa to find a buyer who could pay secured lenders, yet maintain operations for personnel and patients through the Section 363 Bankruptcy process.

The restructuring firm contacted Andre Ulloa to find a buyer who could pay secured lenders, yet maintain operations for personnel and patients through the Section 363 Bankruptcy process.

Client

  • $15.4 Million Home Health and Hospice Agency.
  • 90–year–old, venerable company with 2 locations across the Southern California area.
  • Census of 140 Hospice, 350 Home Health, and a 12% adj. EBITDA.

Objective

  • Conduct Section 363 Bankruptcy process and identify stalking horse bidder who could satisfy the secured creditors and continue the high levels of service.
  • Seamlessly transition staff and patients to a new organization.

Result

  • After record levels of interest, the company was sold for a premium value to two well-established strategic operators.

  • Negotiated definitive contract with restructuring firm and managed overbid auction through multiple competing offers.

  • Worked with primary buyer to identify alternative licensure and investment partner in order to limit liability from existing non – conforming license.

  • Satisfied all secured debts on the company.

“We needed a niche focused healthcare M&A Advisor who could devote the time and energy required to aid us in selling the Debtor to partners that will continue our high standards of patient care. Andre and Mark were a big factor in achieving this goal.”

Adam M.
Chief Restructuring Officer

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