Reporting of financial capital
By James Hopwood, Managing Director and Juanita Schwartzkopf, Managing Director
In March of this year, Downey Regional Medical Center in Los Angeles County successfully emerged from bankruptcy as a healthier and stronger healthcare provider. Key to the success was the assembling of a team of professionals who could see beyond the problems of the past and focus on finding the solutions.
Successful healthcare turnarounds are significant success stories in today’s environment. Compound the situation with a California location, and the ability to turn around a hospital in bankruptcy becomes even more amazing. Yet, overcoming significant odds is exactly what Downey Regional Medical Center (DRMC) and its management team and advisors were able to do between DRMC’s bankruptcy filing in September 2009 and its exit from bankruptcy in March 2012.
DRMC achieved several significant milestones upon its exit from bankruptcy including being the first hospital in California to exit using municipal bond financing and one of only a handful of California hospitals that excited bankruptcy as a continuing stand-alone operation.
Source: Focus Management Group
Financial Reporting and Global Capital Markets: A History of the International Accounting Standards Committee, 1973-2000
Book (Oxford University Press, USA)
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Significant amendments to the North Carolina Beer Franchise Law — Lexology
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