October 22, 2017 2:57 PM ET

Healthcare Providers and Services

Company Overview of First Texas Hospital Cy-Fair LLC

Company Overview

First Texas Hospital Cy-Fair LLC provides health care services. The company was incorporated in 2015 and is based in Houston, Texas. First Texas Hospital Cy-Fair LLC operates as a subsidiary of Adeptus Health Inc.

9922 Louetta Road

Houston, TX 77070

United States

Founded in 2015

Phone:

844-264-1435

Key Executives for First Texas Hospital Cy-Fair LLC

First Texas Hospital Cy-Fair LLC does not have any Key Executives recorded.

First Texas Hospital Cy-Fair LLC Key Developments

Third Amended Reorganization Plan Approved for ADPT DFW Holdings LLC

The US Bankruptcy Court ordered approving the third amended plan of reorganization of ADPT DFW Holdings LLC on September 29, 2017. The debtor filed its third amended plan in the Court on September 13, 2017. Under the plan, administrative claims, fee claims, priority tax claims and non-tax claims will be paid in full in cash. The DIP facility claims of $73.5 million will be paid in equity. Deerfield secured claims of $91.5 million will be paid in equity. Other secured claims will be paid in cash. Defined unsecured claims and Deerfield deficiency claims will be paid in full in cash. Medical Malpractice claims and Other Subordinated claims will be paid in cash in full satisfaction. TRA Claims will be paid in full in cash. Existing Equity Interests and Existing Preferred Equity Interests will be cancelled. The plan will be funded from cash on hand and issuance of new equity.

Third Amended Reorganization Plan Filed by ADPT DFW Holdings LLC

ADPT DFW Holdings LLC filed a third amended plan of reorganization in the US Bankruptcy Court on September 13, 2017. ADPT DFW Holdings LLC filed a second amended plan of reorganization and related disclosure statement in the US Bankruptcy Court on September 13, 2017. As per the amended plan filed, General Unsecured Claims shall comprise of Defined Unsecured Claim of $67.10 million and Deerfield Deficiency Claim of $191.80 million. Holders of Defined Unsecured Claim will not be paid till Deerfield Deficiency Claim has been paid in full. Defined Unsecured Claim holders shall receive remaining distribution from third level distributions of Litigation Trust Waterfall and fourth level until paid in full. Subordinated Claims shall comprise of TRA Claims and Other Subordinated Claims. Holders of TRA Claims shall receive distribution from Fourth Level Distributions of the Litigation Trust Waterfall until such Claims are paid in full. Other Subordinated Claims shall receive distributions in accordance with the Litigation Trust Waterfall. The treatment of remaining classes of claims remains unchanged.

Amended DIP Financing Approved for ADPT DFW Holdings LLC

The US Bankruptcy Court gave an order approving the amendments to DIP financing agreement for ADPT DFW Holdings LLC on August 31, 2017. As per the order, the debtor has been authorized to obtain a senior secured, super-priority credit facility in the amount of $74 million from Deerfield Private Design Fund IV, L.P., Deerfield Partners, L.P. and Deerfield International Master Fund, LP with Deerfield Management Company, L.P. acting as the administrative agent. The remaining terms of the DIP agreement remains unchanged.

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