| As 2024 comes to a close and the Health Care Committee looks back at an eventful year (for the Committee and the health care and life sciences restructuring space as a whole) remains strong across the health care and life sciences restructuring industry, with health care systems, facilities and providers, pharmaceutical companies and diagnostics companies of varying sizes seeking strategic and financial transactions or expedited sales processes, often with the protection of the U.S. bankruptcy courts.
The health care industry continues to struggle with such factors as rising labor costs, access to capital and borrowing costs, high debt loads often associated with private-equity structures, staffing challenges, reimbursement rates and costs of operations, including higher supply costs. Some notable filings in 2024 included Guardian Health, Cano Health, LaVie Care Centers, Steward Health Care, Clinical Care Medical Centers, CarePoint Health, Acorda Therapeutics, Cue Health, Eiger BioPharmaceuticals, NanoString Technologies, Nostrum Laboratories and CareMax.
With the continuation of financial stressors on the health care industry, health care insolvency remains a “hot topic” in the restructuring community, and we hope that we as a committee were able to facilitate those discussions and provide the necessary education, community and awareness to our members.
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Leadership and Membership
The 2024 ABI Health Care Committee was led by the following leading members of ABI, who represent a diverse range of levels, skill sets and geographies:
- Co-Chair: Brian Bonaviri, MERU, LLC (NC) Co-Chair: Robert Schechter, Porzio, Bromberg & Neman, P.C. (NJ)
- Communications and Listserv Manager: Samantha Ruben, Dentons LLP (IL)
- Education Director: Clare Moylan, Gibbins Advisors, LLC (TN)
- Membership Relations Director: Jason Reed, Maslon LLP (MN)
- Newsletter Editor: Robert Fitzgerald, Skadden, Arps, Slate, Meagher & Flom LLP (IL)
In 2024, the co-chairs led welcome meetings for new members at regular (monthly or quarterly) intervals throughout the year that helped engage new members, introduce new members to committee leadership, and solidified relationships between committee members to facilitate future involvement.
For the coming year, we expect the committee’s leadership to remain largely the same with the exception of Brian Bonaviri (co-chair) rolling off the committee leadership, filling two positions that are expected to be open, and elevating other members of the leadership team to serve in new roles. We are still assessing the skillset and experience necessary to fill the open positions for next year. |
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