January 21, 2018 3:46 AM ET

Healthcare Providers and Services

Company Overview of Oakland Physicians Medical Center, L.L.C.

Company Overview

Oakland Physicians Medical Center, L.L.C., doing business as Doctors’ Hospital of Michigan, owns and operates an acute care health care facility in Pontiac, Michigan that serves patients in northern Oakland County. It offers behavioral medicine, cardiology, CT scan, endoscopy, lab, multi-specialty, occupational medicine, family medicine, pain relief, physical medicine and rehabilitation, radiology, respiratory therapy, urgent care, family medicine residency program, outpatient physical therapy, inpatient/outpatient surgery, nutritional/cafeteria, and ambulatory care services. Oakland Physicians Medical Center, L.L.C. was formerly known as North Oakland Medical Centers and changed its name to...

461 West Huron Street

Pontiac, MI 48341

United States

Founded in 1910

Phone:

248-857-7200

Fax:

248-857-6882

Key Executives for Oakland Physicians Medical Center, L.L.C.

Chief Executive Officer and President
Chief Financial Officer
Chief Nursing Officer and Vice President of Patient Care Services
Chief Nursing Officer and Vice President of Patient Services
Director of Medical Education
Compensation as of Fiscal Year 2017.

Oakland Physicians Medical Center, L.L.C. Key Developments

Third Amended Reorganization Plan Approved for Oakland Physicians Medical Center, L.L.C.

The US Bankruptcy Court approved the revised third amended plan of reorganization of Sant Partners, LLC for Oakland Physicians Medical Center, L.L.C. on February 11, 2016. The Court has also approved the disclosure statement relating to the plan. As per the approved plan, administrative claims, priority tax claims of $2 million and professional fee claims shall be paid in full in cash. DIP lender shall satisfy their DIP facility claims to fund the purchase price to acquire the new membership interests through the conversion of dip facility claims in an amount equal to the purchase price. Other secured claims shall either be paid in full in cash or shall be reinstated or surrendered. Crittenton secured claims of $0.75 million shall receive $0.10 million in cash and Crittenton notes of $0.65 million. CMS overpayment claim of $6.7 million shall be reinstated and the participation agreements between the debtor and CMS shall be deemed assumed. Michigan overpayment claims of $1.91 million shall be reinstated and the participation agreements between the debtor and Michigan shall be deemed assumed. WRC secured claim of $0.79 million shall receive fixed monthly payments of $13,237.76 over a five year period commencing on the first day of the month following the effective date. General unsecured claims of $16.37 shall receive its pro rata share of the trust beneficial interests. All the old equity interests of the debtor shall be cancelled and shall not receive or retain any property. The plan shall be funded from debtor’s cash in hand, borrowings under the new credit facility and $1.5 million equity investment by Sant Partners, LLC. Debtor will issue new credit facility of $8 million at an interest rate of 8% p.a. Crittenton notes will be issued with an interest rate of 3% p.a.

Fourth Amended DIP Financing Approved for Oakland Physicians Medical Center, L.L.C.

The US Bankruptcy Court gave an order approving the fourth amendments to DIP financing agreement for Oakland Physicians Medical Center, L.L.C. on February 5, 2016. As per the order, the debtor has been authorized to obtain a revolving credit facility in the revised amount of $2.90 million and will have revised maturity date of February 13, 2016.

Third Amended DIP Financing Approved for Oakland Physicians Medical Center, L.L.C.

The US Bankruptcy Court gave an order approving the third amendments to DIP financing agreement for Oakland Physicians Medical Center, L.L.C. on January 29, 2016. As per the order, the debtor has been authorized to obtain a revolving credit facility in the revised amount of $2.70 million and will have revised maturity date of February 5, 2016.

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