BayMark is undergoing a negotiated restructuring transaction (the “Proposed Transaction”) whereby BayMark’s existing lenders will exchange a significant amount of their existing debt holdings in return for ownership of BayMark and its subsidiaries. The Proposed Transaction will be implemented through a new-money recapitalization and a debt-for-equity exchange. Pursuant to transaction documentation, BayMark’s existing lenders will assume ownership of BayMark and its subsidiaries through the acquisition of New Parent. On the Proposed Transaction effective date, New Parent will acquire substantially all of the assets and/or equity interests of BayMark and issue new equity interests to BayMark’s creditors. This is not a merger with another health care entity and is not expected to have any impact on the competitive landscape. The Proposed Transaction is not intended to impact the services or operations of BayMark, but instead to preserve ordinary course operations and support continued stability and growth. No changes to BayMark’s services, quality of or access to care, facilities, or personnel are anticipated as a result of the Proposed Transaction.
Parties cell
Evidence
One agency record. It is not grouped with any other.
Names as filed and source keys
State
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WA
BayMark Health Services Inc. (“BayMark”); New BayMark Parent, LLC (“New Parent”