Beverly Community Hospital Association

CASE SUMMARY: Beverly Hospital to Run Sale Process Amid ‘Unsustainable’ Rising Expenses, Failed Out-of-Court Merger, Affiliation Efforts; Debtors to Fund Cases With $13M DIP Financing 

Fri 04/21/2023 10:00 AM
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Relevant Documents:
Voluntary Petition
First Day Declaration
DIP Financing Motion
Cash Collateral Motion
First Day Hearing Agenda
Issue Details: Series 2015, Series 2017
Official Statements: Series 2015, Series 2017
 
Summary
Beverly Hospital administers healthcare regardless of a patient’s ability to pay, thus 91% of inpatients are paid by government programs
Debtors seek to fund the cases with $13 million in DIP financing from HRE Montebello LLC as lender, with $6 million in interim...
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