THE SITUATION:
Gainesville Hospital District saw light at the end of the tunnel—a new beginning for North Texas Medical Center (NTMC). The district had leveraged bankruptcy to get the legal protection and time it needed to develop a plan to restructure $40 million in debt, pay creditors, and keep the hospital open. The district secured debtor-in-possession financing and filed a bond validation to enhance the appeal of its bonds as investments. Gainesville Hospital District was on the right track to emerge from Chapter 9, but the district needed to find a long-term resource for hospital management to keep NTMC moving in the right direction.
Community Hospital Corporation (CHC) was tapped as NTMC’s synergistic partner to identify and implement
operational improvements…
