T R O U B L E D C O M P A N Y R E P O R T E R
Saturday, September 16, 2017, Vol. 21, No. 258
ADPT DFW: Suffers $18.03 Million Net Loss in July
ADPT DFW: Suffers $18.03 Million Net Loss in July
ADPT DFW Holdings LLC, et al., filed with the U.S. Securities and
Exchange Commission their monthly operating report for July 2017.
The Debtors reported a net loss of $18.03 million on total net
operating revenue of $19.41 million for July, an increase from
$16.41 million net loss recorded for the previous month.
As of July 31, 2017, the Debtors posted total assets of $417.15
million, total liabilities of $646.82 million, and total
shareholder's deficit of $229.67 million.
The Debtors started the month with $17.64 million cash. They
listed $57.27 million in total receipts and $52.73 million in total
disbursements. At month end, the Debtors had $22.18 million cash.
A copy of the monthly operating report is available at the SEC at:
About ADPT DFW Holdings LLC
Adeptus Health LLC -- http://www.adpt.com/-- through its
subsidiaries, owns and operates hospitals and free standing
emergency rooms in partnership with various healthcare providers.
Adeptus Health Inc. is a holding company whose sole material asset
is a controlling equity interest in Adeptus Health LLC.
Lewisville, Texas-based ADPT DFW Holdings LLC and its affiliates,
including Adeptus Health, Inc., and Adeptus Health LLC, each filed
Chapter 11 bankruptcy petitions (Bankr. N.D. Tex. Lead Case No.
17-31432) on April 19, 2017, listing $798.7 million in total assets
and $453.48 million in total debt as of Sept. 30, 2016. Andrew
Hinkelman, their chief restructuring officer, signed the
Judge Stacey G. Jernigan presides over the cases.
Elizabeth Nicolle Boydston, Esq., Kristian W. Gluck, Esq., John N.
Schwartz, Esq., Timothy S. Springer, Esq., and Louis R. Strubeck,
Jr., Esq., at Norton Rose Fulbright US LLP serve as the Debtors'
bankruptcy counsel. The Debtors tapped DLA Piper LLP (US) as
special counsel; FTI Consulting, Inc., as chief restructuring
officer; Houlihan Lokey, Inc., as investment banker; and Epiq
Systems as claims and noticing agent.
On May 1, 2017, a nine-member official unsecured creditors
committee was formed in the case. The committee tapped Akin Gump
Strauss Hauer & Feld LLP as counsel. The Committee retained
CohnReznick as financial advisors.
On June 19, 2017, the U.S. Trustee appointed an official committee
of equity security holders. The equity committee hired Winstead
P.C. as legal counsel.
Daniel T. McMurray has been named as Patient Care Ombudsman in the
Debtors' cases. The PCO tapped Focus Management Group USA, Inc.,
as medical operations advisor.
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