April 19, 2018 11:53 PM ET

Healthcare Providers and Services

Company Overview of Derm-Rad Investment Company, LLC

Company Overview

Derm-Rad Investment Company, LLC provides patient care and cancer treatment services. The company was incorporated in 2008 and is based in Fort Myers, Florida. Derm-Rad Investment Company, LLC operates as a subsidiary of 21st Century Oncology Holdings, Inc.

2270 Colonial Boulevard

Fort Myers, FL 33907

United States

Founded in 2008

Phone:

239-931-7275

Key Executives for Derm-Rad Investment Company, LLC

Derm-Rad Investment Company, LLC does not have any Key Executives recorded.

Derm-Rad Investment Company, LLC Key Developments

Reorganization Plan Approved for 21st Century Oncology Holdings, Inc.

The US Bankruptcy Court approved the plan of reorganization of 21st Century Oncology Holdings, Inc. on January 11, 2018. As per the approved plan, Administrative Claims, DIP Claims of $75 million, Professional Claims, Priority Tax Claims and Statutory Fees will be paid in full. Other Priority Claims in the amount of $0.01 million will be paid in full in cash. Holders of Other Secured Claim will either be paid in full or be reinstated. MDL Claims of $35.23 million will pro rata share of loans provided under the New MDL Term Loan Facility of $10 million and payment in full in cash of the unpaid portion. First Lien Claims in the amount of $727.66 million shall receive loans provided under the New First Lien Term Loan Credit Facility and cash. Note Claims in the amount of $412.65 million shall receive New Notes Rights, New Preferred Equity Rights and share of the New Common Stock Equity Pool and shall have a recovery in range of 1.7% to 34.8%. If General Unsecured Claim is less than or equal to $1 million and such holder has not properly made the New Common Stock Election or is greater than $1 million and such holder has properly made the Convenience Claim Election then they will receive share of Convenience Claim Distribution. Convenience Claims range between $12.06 million to $21.06 million and shall have a recovery of in the range of 12.3% to 21.6%. If General Unsecured Claim is more than $1 million and such holder has not properly made the Convenience Claim Election or is less than or equal to $1 million and such holder has properly made the New Common Stock Election, then they will receive Pro Rata share of the New Common Stock Equity Pool. General Unsecured Claim in the amount of $37.04 million shall have a recovery in the range of 1.7% to 34.8%. Intercompany Claims in the amount of $19.09 million, Class B 21C, LLC Interests and Intercompany Interests shall be canceled or reinstated as of the Effective Date at the option of debtors. Holders of any Section 510(b) Claims shall not receive any recovery on account of such claims. All Interests in 21CH shall be canceled as of the Effective Date or reinstated at the Debtors’ option. In the event that all Classes of Claims entitled to vote on the Plan vote to accept the Plan, there are no Allowed Section 510(b) Claims, and holders of Allowed Interests in 21CH and 21CI in the amount of $627.17 million vote to accept the Plan, each holder of an Allowed Interest in 21CH and 21CI shall receive, on the Effective Date Pro Rata share of the New Warrants. The plan will be funded from cash in hand, New MDL Term Loan Facility of $10 million, New First Lien Term Loan Credit Facility, New Domestic Revolving Credit Facility of $50 million, New Second Lien Notes of $200 million, New Preferred Equity Rights Offering of $88.24 million, common stock and rights offerings.

Motion for Asset Sale Approved for 21st Century Oncology Holdings, Inc.

The US Bankruptcy Court gave an order approving the sale of certain assets of Arizona Radiation Therapy Management Services, Inc. on December 11, 2017. The debtor has been authorized to sell its Arizona Radiation’s assets and oncology centers located in Arizona to Alliance HealthCare Services, Inc., for a purchase price of $2 million in cash plus assumed liabilities pursuant to the asset purchase agreement.

Motion for Asset Sale Filed by 21st Century Oncology Holdings, Inc.

Arizona Radiation Therapy Management Services, Inc. filed a motion in the US Bankruptcy Court for the sale certain assets on November 8, 2017. The debtor seeks the Court’s approval for the sale of its Arizona Radiation’s assets and oncology centers located in Arizona to Alliance HealthCare Services, Inc., for a purchase price of $2 million in cash plus assumed liabilities pursuant to the asset purchase agreement.

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