Experience

GenesisCare

Advising the official committee of unsecured creditors of GenesisCare. Burdened by more than US$1.7 billion of debt, the company sought Chapter 11 protection in the bankruptcy court in the Southern District of Texas, Houston Division. The seven-member committee consists of Accuray Inc., ASD Specialty Healthcare LLC (Amerisource Bergen), Block Imaging Parts & Service LLC, Elekta, Cardinal Health 414 LLC, Centrex Revenue Solutions and Boston Scientific Corp

Rite Aid

Advising the official committee of unsecured creditors of Rite Aid Corporation. Rite Aid filed for Chapter 11 protection in the bankruptcy court in the District of New Jersey, burdened by more than $4 billion in funded debt and facing substantial opioid litigation. The nine-member committee consists of McKesson Corporation, Benderson Development Company, Computershare Trust Company, United Food and Commercial Workers International Union, MCS Advantage Inc., Realty Income Corporation, Loyd F. Schmuckley, Jr., Relator, Humana Health Plan Inc. and Pension Benefit Guaranty Corporation

Healthcare Services, Life Sciences, Technology and Recurring Revenue Loan Securitization

Represented the sponsor and issuer of a US$330 million securitization of senior secured loans made to companies operating in the healthcare industry and adjacent markets. This was the sponsor’s first 144a transaction and the advisor to the sponsor’s first securitization of non-healthcare and recurring revenue loans. The securities were rated by Kroll Bond Rating Agency

Healthscope Limited

Herbert Smith Freehills has advised the State of Tasmania on a new contract for Healthscope Limited to operate Hobart Private Hospital for a new 20 year term

Bethanie Aged Care

Advised Perth-based non-profit aged care operator, The Bethanie Group Inc., on its announced conditional agreement to acquire two residential care facilities from Berrington Care. Berrington Care was placed into administration on 4 July 2019. The administration, and associated treatment of ‘refundable accommodation deposits’, made this a particularly complex (and first-of-kind) transaction

ITOCHU Corporation

Advised in relation to its strategic investment in Suntop, a PRC supplier of dialysis equipment and operator of dialysis clinics. The strategic investment will facilitate the expansion of Suntop’s business and the building of connections with Japanese suppliers and medical institutions

Key contacts

Adam C. Rogoff photo

Adam C. Rogoff

Partner, Head of Turnaround and Board Advisory, US, New York