Watsonville Hospital is a community hospital in Watsonville, CA, a rural agricultural community
Industries
Expertise
From the newsroom
- Force 10 Partners Sell Watsonville Community Hospital and its Plan Becomes Effective, Securing a Fresh Start for the Long-Struggling Hospital
- Force Ten Partners Helps Secure Bankruptcy Court Approval of Sale of Watsonville Community Hospital and Position Long-Struggling Hospital for Financial and Operational Turnaround
Force 10 served as financial advisor and later Chief Restructuring Officer to Watsonville Hospital Corporation during its Chapter 11 bankruptcy. Facing severe financial and operational challenges, Force 10 stabilized the hospital, secured Debtor-in-Possession financing, and facilitated its successful sale to a newly formed healthcare district. These efforts ensured the hospital's continued service to its underserved community.
Watsonville Hospital Corporation filed Chapter 11 bankruptcy due to poor management and liquidity issues. Force 10 was hired as the financial advisor to assist with the restructuring and facilitate the hospital’s sale. The hospital had been struggling financially for years and was on the verge of shutting down when Force 10 was appointed Chief Restructuring Officer in September 2021. Force 10 also provided the hospital with financial and operational support and expertise.
We stabilized the hospital’s financial and operational challenges and led the Chapter 11 bankruptcy process, which included successfully negotiating the Debtor-in-Possession financing and the sale to a newly formed healthcare district. Our efforts enabled the hospital to continue providing much-needed healthcare services to its underserved community throughout the Chapter 11 reorganization.
