Morris Nichols Bankruptcy Alert - Promise Healthcare Group, LLC and Certain of Its Affiliates File Chapter 11 Bankruptcy Cases in Delaware

On November 4-5, 2018, Promise Healthcare Group, LLC and certain of its affiliates filed voluntary petitions under Chapter 11 of the United States Bankruptcy Code in the U.S. Bankruptcy Court for the District of Delaware. As a courtesy to our clients and friends, the Morris Nichols Business Reorganization & Restructuring Group has summarized information related to the filings below.

Lead Case No. – 18-12491.

Debtor(s) – Promise Healthcare Group, LLC; Promise Healthcare Holdings, Inc.; Promise Healthcare, Inc.; Promise Healthcare #2, Inc.; Promise Hospital of Dallas, Inc.; Promise Hospital of Overland Park, Inc.; Promise Hospital of Wichita Falls, Inc.; Promise Skilled Nursing Facility of Overland Park, Inc.; Promise Skilled Nursing Facility of Wichita Falls, Inc.; Promise Hospital of Phoenix, Inc.; Promise Hospital of Ascension, Inc.; Promise Hospital of Baton Rouge, Inc.; Promise Hospital of Louisiana, Inc.; Professional Rehabilitation Hospital, L.L.C.; Promise Hospital of Salt Lake, Inc.; Promise Hospital of Vicksburg, Inc.; HLP of Shreveport, Inc.; Bossier Land Acquisition Corp.; Promise Hospital of Florida at The Villages, Inc.; Promise Hospital of Dade, Inc.; Promise Hospital of Lee, Inc.; Promise Properties of Dade, Inc.; Promise Properties of Lee, Inc.; Promise Properties of Shreveport, LLC; HLP Healthcare, Inc.; Quantum Health, Inc.; HLP Properties, Inc.; Quantum Properties, L.P.; Promise Healthcare of California, Inc.; PH-ELA, Inc.; Promise Hospital of East Los Angeles, L.P.; Success Healthcare, LLC; HLP of Los Angeles, LLC; Success Healthcare 1, LLC; Success Healthcare 2, LLC; St. Alexius Hospital Corporation #1; St. Alexius Properties, LLC; LH Acquisition, LLC; HLP Properties of Vidalia, LLC; Vidalia Real Estate Partners, LLC; HLP Properties at The Villages, Holdings, LLC; HLP Properties at the Villages, L.L.C.; Promise Behavioral Health Hospital of Shreveport, Inc.; Promise Rejuvenation Centers, Inc.; Promise Rejuvenation Center at the Villages, Inc.; and PHG Technology Development and Services Company, Inc.

Description of Debtor(s) – Operators of acute care hospitals and skilled nursing facilities.

Website of Debtor(s) (URL) www.promisehealthcare.com.

Assigned Judge – The Honorable Christopher S. Sontchi.

Proposed Counsel – The Debtors' proposed bankruptcy co-counsel are Waller Lansden Dortch & Davis, LLP and DLA Piper LLP (US). 

Proposed Financial Advisor – FTI Consulting.

Proposed Investment Banker – Houlihan Lokey and MTS Health Partners, L.P.

Proposed CRO – Andrew Hinkelman.

Plan Status – No plan was filed with the petitions. 

First Day Hearing – A first day hearing has been scheduled for November 6, 2018 at 4:00 p.m. ET. 

Bankruptcy Documents  –

Please do not hesitate to contact any member of the Morris Nichols Business Reorganization & Restructuring Group if we can be of assistance.

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