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Case Study

Debt Restructuring Creates Solid Footing: North Texas Medical Center, Gainesville, Texas

The Situation

Gainesville Hospital District saw light at the end of the tunnel—a new beginning for North Texas Medical Center (NTMC). The district had leveraged bankruptcy to get the legal protection and time it needed to develop a plan to restructure $40 million in debt, pay creditors, and keep the hospital open. The district secured debtor-in-possession financing and filed a bond validation to enhance the appeal of its bonds as investments. Gainesville Hospital District was on the right track to emerge from Chapter 9, but the district needed...

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“Our vision is to keep improving and continue adding services, although we are rightfully proud of the services we offer already.”
Tom Sledge, CEO, North Texas Medical Center

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