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Adeptus Health Successfully Completes Financial Restructuring

Posted October 01, 2017

LEWISVILLE, Texas, Oct. 2, 2017 /PRNewswire/ -- Adeptus Health Inc.,(the "Company"), the largest operator of freestanding emergency rooms in the U.S., today announced that the Company has successfully completed its financial restructuring and emerged from Chapter 11. In accordance with the Plan of Reorganization, reorganized Adeptus Health, formerly owned by the Company is now owned by affiliates of Deerfield Management Company ("Deerfield") and is free of all long-term debt. 

Reorganized Adeptus is moving forward with 99 innovative, freestanding and fully equipped emergency rooms in seven markets that are staffed with board-certified physicians and emergency trained registered nurses and include state of the art diagnostic technology (CT Scanners, Ultrasound, and Digital X-ray) and on-site labs. Reorganized Adeptus will continue to focus on delivering an excellent patient experience, fostering a well-supported work environment and engaging collaboratively with its hospital partners to improve local healthcare communities.

"Adeptus is beginning its next chapter well positioned for success with increased financial flexibility and a strong partner in Deerfield to ensure that the Company continues offering patients the highest-quality care and supporting our employees, affiliated physicians and partners," said Gregory W. Scott, Chairman and Interim Chief Executive Officer of Adeptus. "We are committed to our mission of improving access to emergency care in the communities we serve and look forward to working closely with Deerfield to capture the opportunities ahead for our business."

Mr. Scott continued, "We thank our outstanding team members as well as the dedicated physicians and medical staff working in our facilities. Because of their efforts, patients have continued to receive the same high-quality emergency medical care and attention for which we are known. These teams will continue to drive our success. We also thank our vendors and partners for their support throughout this process, and look forward to continue working together with them well into the future."

Adeptus Health Inc. is no longer a publicly-held company, all shares of its Class A common stock have been cancelled and are no longer trading on the OTC market, and it will be dissolved as a corporate entity.   

Additional information can be accessed by visiting Adeptus Health's website at www.adhc.com/restructuring or calling Adeptus Health's Restructuring Hotline, toll-free in the U.S., at (844) 469-3932. Court filings and other documents related to the court-supervised proceedings are available at a website administered by the Company's claims agent, Epiq Systems, at http://dm.epiq11.com/ADPT.  Please see the plan of reorganization for a description of any rights that you may have as a former stockholder of the Company.

Norton Rose Fulbright US LLP served as reorganization counsel to Adeptus, and FTI Consulting served as financial advisor.