Responding to the critical business and legal issues facing the ever-changing health care industry, Dickinson Wright PLLC has launched its Distressed Health Care Restructuring Group (DHR Group) which combines a comprehensive, national legal team and the strategic and financial advisors at Crux Strategies™.
“We believe virtually every participant in the health care industry – hospitals, physicians, home health, senior living, pharmaceutical distributors and labs—is affected by increasing compliance issues, changes in reimbursement rates, uncertainty with the Affordable Care Act, and a general shift in the way health care is delivered,” said Carolyn Johnsen, partner in Dickinson Wright’s Phoenix office who spearheaded the group’s formation. “The DHR Group collaborates with Crux to bring clients immediate and comprehensive business and financial data analysis that is the heart of decision making for every health care-related business.”
The DHR Group includes seven attorneys located in six different offices throughout the nation practicing in the areas of health care, restructuring, insolvency and bankruptcy, finance, real estate, regulatory, litigation and tax. These lawyers have extensive experience in health care turnarounds and restructurings, bankruptcy sales, mergers and acquisitions, health care related lending, issues related to leases, real estate and all related regulatory and compliance matters including government relations.
Dickinson Wright clients will have access to Crux Strategies™ Aurum™ database, built on over 30 million claims, that contains the financial metrics for every U.S. hospital as well as ambulatory surgery centers, specialty physician practices and post-acute care facilities. By using the Aurum™ database as a foundation for data driven analysis of untapped capital and the experience of Crux’s staff, clients facing financial challenges can chart a course back to financial viability.
“Since the passage of the Affordable Care Act in 2010, health care providers such as hospitals, ASCs and skilled nursing facilities have been under increasing pressure to change their business models to conform to the new realities of doing business,” says C. Timothy Gary, Chief Executive Officer of Crux Strategies. “Many troubled health care companies need to reorganize, gain access to new capital sources, improve operations and shed old obligations that they can no longer support. At the same time, the reality is that they lack the capital to make these changes. Through our collaboration, Dickinson Wright and Crux Strategies will bring data, analytics, new capital sources and investors to the table and solve this issue in a single, one stop service.