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Health Care in the Shadow of COVID-19: What Will the "New Normal" Look Like?


Level: Intermediate
Runtime: 85 minutes
Recorded Date: May 28, 2020
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Agenda

        • Polsinelli/TrBK Distress Indices
        • The State of the Health Care Market
                - COVID Impact
                - CARES Act
                - Funding Streams: Provider Relief Fund
                - HEROES Act
                - Key Healthcare Policy Proposals
        • COVID Implications and Strategies
                - Distress in Health Care
                - Implications for Today AND Tomorrow
                - Long-Term Shifts and Relationships
                - Trickle Down Effects of COVID-19
                - Health Care COVID-19 End Game: Part II
        • Q & A

Runtime: 1 hour, 25 minutes
Recorded: May 28, 2020

For NY - Difficulty Level: Both newly admitted and experienced attorneys

Description

Join experts in the health care insolvency field as they discuss a host of issues looming for the industry due to the fallout from the ongoing pandemic, factoring in the current landscape for providers, Polsinelli's Distressed Health Care Index, and the sectors that have been most affected thus far and in what ways.

As the country begins to reopen, what might the "new normal" for providers look like, and how long is it likely to last? How might the financial and operational performance of companies be altered, and what legal strategies can be employed to ensure viability? How will all of the above impact lenders, landlords, and vendors, and how are the CMS advances provided by the government different from other sources of relief? Finally, how are health care businesses preparing for the next COVID-19 cycle in light of the virus's likely resurgence in the fall, and can we expect a second wave of shutdowns? Hear about these matters and more as the industry braces for change in the coming months.

This program was recorded on May 28th, 2020.

Provided By

American Bankruptcy Institute
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Panelists

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Christopher A. Ward

Office Managing Partner
Polsinelli, PC

Christopher A. Ward chairs Polsinelli PC’s Bankruptcy & Financial Restructuring Practice and is the managing shareholder of the firm’s Wilmington, Del., office. He is ABI’s Vice President-Development and serves on Polsinelli’s board of directors.

Mr. Ward focuses his practice on corporate bankruptcy, financial restructuring, bankruptcy litigation and distressed-asset sales, as well as nobankruptcy alternatives. He has been recognized for excellence in Delaware Bankruptcy/Restructuring by Chambers USA since 2010, recognized by SuperLawyers in Delaware for Bankruptcy & Creditor Rights in 2012 and since 2014, and recognized in The Best Lawyers in America for Bankruptcy/ Restructuring in Delaware since 2015. He is also an editor and contributor to the app version of Polsinelli’s The Devil’s Dictionary of Bankruptcy Terms, which has its own dedicated website and is available for free on iTunes.

Mr. Ward co-authored ABI’s A Business Creditors’ Guide to Distressed Vendors, Debt Collection and Bankruptcy and was editor and co-author of ABI’s The Chief Restructuring Officer’s Guide to Bankruptcy, and he is routinely quoted in the Wall Street Journal, Law360 and The Deal on restructuring issues. He received his B.A. from Moravian College in 1995 and his J.D. cum laude from Widener University School of Law in 1999.

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Daniel Polsky

Managing Director
Getzler Henrich & Associates, LLC

Daniel Polsky is a managing director with Getzler Henrich & Associates LLC in New York and has 30 years of diversified restructuring experience, serving in advisory, expert and crisis/turnaround management roles. He has led many engagements in formal bankruptcy proceedings and out-of-court restructurings, and has advised unsecured creditors’ committees, senior management of distressed businesses, bank lenders, private-equity investors and other parties-in-interest.

Mr. Polsky has assisted clients in a wide variety of industries, including health care, retail, telecommunications, steel, transportation, professional services, manufacturing and distribution, among others. He has also advised investors considering potential business/asset acquisitions and distressed businesses on disposition alternatives.

A longtime creditor rights practitioner, Mr. Polsky has experience in devising case recovery and litigation strategies, developing plans of reorganization and capital structures, designing operational and strategic plans, and creating and implementing cost-reduction strategies. He has conducted various fraud and financial investigations, performed insolvency and liquidation analyses, prepared expert reports, and provided expert testimony in connection with numerous bankruptcy litigation and restructuring matters. Over the course of his restructuring career, Mr. Polsky has also provided quality and risk-management oversight, including conflict resolution and risk mitigation, engagement acceptance and documentation, service- line policy development, and complex client and technical matters.

Prior to joining Getzler Henrich, he served in a senior leadership role at a prominent global consulting firm. A member of ABI and the Turnaround Management Association, Mr. Polsky received his Bachelor’s degree from the University of Pennsylvania and his M.B.A. from New York University.

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Jeremy R. Johnson

Shareholder
Polsinelli, PC

Jeremy R. Johnson is a shareholder with Polsinelli PC in New York, where he provides clients with business-oriented legal guidance addressing their financial restructuring and insolvency issues, including transactional and litigation matters. His financial restructuring practice focuses on representing distressed companies requiring out-of-court corporate or debt restructuring, debtors in chapter 11 bankruptcy cases (reorganizations and liquidations), strategic and financial acquirers of distressed assets through § 363 asset sales or plans, individual creditors or committees in bankruptcy proceedings, borrowers and lenders in financing transactions, healthy companies seeking protection from exposure to distressed entities, international companies seeking chapter 15 relief, and creditors, lenders or private-equity sponsors requiring advice on borrower or portfolio companies.

During his 15 years in practice, Mr. Johnson has represented stakeholders across various industries, including manufacturing, mining and metals, automotive, energy, retail and financial services. He has developed a particular concentration in distressed health care, representing for-profit and nonprofit hospitals, senior living and nursing home providers, ambulatory care and other providers, and strategic and financial purchasers of health care assets. He also counsels purchasers utilizing “loan-to-own” strategies, defendants in avoidance actions (preferences, fraudulent conveyances or other matters), lenders and borrowers in distressed real estate matters, receivers, and chapter 7 and 11 trustees.

Mr. Johnson received his B.A. in 1996 from the University of Iowa and his J.D. in 1999 from Boston University School of Law, where he served as editor-in-chief of the American Journal of Law & Medicine.

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Brian Fortune

President
Farragut Square Group

Brian Fortune is president of Farragut Square Group in Washington, D.C., and is responsible for the firm’s research and diligence work. Before co-founding Farragut, he was the political strategist and a managing director of Marwood.

Previously, Mr. Fortune served the Republican leadership in the U.S. House of Representatives for a decade, working primarily for former House Speaker John Boehner (R-Ohio) and Majority Leader Dick Armey (R-Tex.). While representing the House leadership, he served as staff director of Legislative Digest, the policy analysis and communications division of the House Republican Conference. In that role, he worked with the senior staff on all House committees, concentrating primarily on issues before the Ways and Means, Energy and Commerce, and Appropriations Committees. During this period, he worked directly with leadership on all of the major health care initiatives, including BBA97, BBRA, HIPAA and BIPA 2000.

Mr. Fortune is a graduate of Oregon State University.

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David R. Campbell

Managing Director
Getzler Henrich & Associates, LLC

David R. Campbell is a managing director with Getzler Henrich & Associates LLC in Chicago and has corporate restructuring, capital markets and leveraged finance experience, having completed restructurings and financing across multiple industries including health care services and providers, steel, metals, automotive, technology, media and telecom. He has more than 20 years of experience with in- and out-of-court restructurings and recapitalizations, and M&A and divestiture initiatives, and he works with private-equity firms, banks, family offices and commercial lenders to provide strategic advice to their investments.

Mr. Campbell’s functional expertise includes special- situation strategies, financial and due diligence, and capitalization initiatives. Prior to joining Getzler Henrich, he was a managing director in the private-equity coverage group at Fifth Third Bank, where he focused on health care leverage finance. He also was a managing director with Almeric Capital Partners, a credit opportunity fund focusing on distressed first- and second-lien leveraged loans, and before that, he served as a senior vice president with GE Capital’s Health Care Finance group and as a principal at Potak, Campbell & Co., a boutique corporate restructuring firm providing advisory services to unsecured creditors.

Mr. Campbell received his B.A. from Boston University, his M.B.A. from the University of Chicago’s Booth School of Business and a Master’s degree from the University of Chicago’s Harris School of Public Policy.

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Luke Andrews

Director
Getzler Henrich & Associates, LLC

Luke Andrews is a director with Getzler Henrich & Associates LLC in New York and specializes in financial and cash-flow modeling, quantitative and statistical data analyses, and efficiency improvements through business-tool development. Since joining the firm 15 years ago, he has been involved in more than 25 engagements in such industries as health care, retail, fashion, real estate, construction, manufacturing, distribution, asset-management, professional services, apparel and food, among others. He also has advised management teams through financial and managerial crises, complex operational and financial restructurings, and both micro and macro strategic planning.

Prior to joining Getzler Henrich, Mr. Andrews worked in the alternative investment group of a Swiss private bank and as a member of the investment team at a New York-based multi-family office. His previous experience included financial modeling, research and data analyses, as well as both quantitative and qualitative evaluations of investment opportunity, performance and risk.

Mr. Andrews is proficient in multiple programming languages, including Python, Javascript, Stata, R and VBA, and he is a member of the Turnaround Management Association’s New York Chapter, having served on its NextGen Committee for three years. He received his Bachelor’s degree in economics from Washington and Lee University in Lexington, Va.


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