[BrianL99]

Originally Posted by spinner1001

You might be right. But the language in the judge’s order approving the sale (link in the OP’s original post) seems comprehensive in protecting the buyer from TVH’s conduct before closing the sale. See especially page 15 of the order.

Yes, the Buyer is protected. It appears the Seller is not.

[BrianL99]

Originally Posted by Caymus

Does anyone have a guess what the transition period would look like? Some reports claim they are only "buying" the patients and not the buildings and equipment. Do they shut down while they negotiate contracts with the medical staff and building/equipment purchase/lease agreements?

I believe all the buildings/facilities are "leased", not owned by TVH.

Most of the equipment is leased, not owned.

The "contracts" are assets and likely part of the sale. Both leases and employment contracts. All of which probably have "alienation clauses" and I have no clue how that will shake out.

[smarch001]

Curious, does the TV own the physical buildings, equipment, etc. It would be a crime if they are going to have the ability to collect rent from Humana. This happened very quickly in comparison to other bankruptcy situations. I may be stupid, but something still smells in this transaction.

[spinner1001]

Originally Posted by smarch001

Curious, does the TV own the physical buildings, equipment, etc. It would be a crime if they are going to have the ability to collect rent from Humana. This happened very quickly in comparison to other bankruptcy situations. I may be stupid, but something still smells in this transaction.

The case has been vetted with interested parties and the judge is following the law. QED.

And it is not a crime under our laws. OK, fine, you probably meant to say it is immoral — but that is a slippery slope. Perfect topic for social media and happy hour.

[Mrprez]

Originally Posted by smarch001

Curious, does the TV own the physical buildings, equipment, etc. It would be a crime if they are going to have the ability to collect rent from Humana. This happened very quickly in comparison to other bankruptcy situations. I may be stupid, but something still smells in this transaction.

Yes, The Villages owns the buildings and yes Humana will pay rent just as The Villages Health had to pay rent! How is that criminal?

[dougawhite]

Originally Posted by BrianL99

Based on the Objection filed by AUSA, they're claiming liability and criminal liability stay attached.

It's not over until it's over. The approved sale is far from the end of the road.

But, the judge included this: "preserving certain rights of governmental authorities and healthcare programs to pursue claims unrelated to the asset purchase."

[Joecooool418]

Originally Posted by dougawhite

But, the judge included this: "preserving certain rights of governmental authorities and healthcare programs to pursue claims unrelated to the asset purchase."

Wonder if that part will quietly disappear at some point.

[Rainger99]

There are so many questions and TVH has failed to provide any answers. They should hold a meeting that is streamed online where they can tell us what to expect in the future so that we can prepare for the enrollment period which starts next month.

How many doctors are staying?
How many people are dropping out of TVH?
Will they take regular Medicare?
Will costs go up?

[BrianL99]

Originally Posted by BrianL99

Based on the Objection filed by AUSA, they're claiming liability and criminal liability stay attached.

It's not over until it's over. The approved sale is far from the end of the road.

Originally Posted by BrianL99

Yes, the Buyer is protected. It appears the Seller is not.

Originally Posted by dougawhite

But, the judge included this: "preserving certain rights of governmental authorities and healthcare programs to pursue claims unrelated to the asset purchase."

There's no "but". That is exactly what I said.

The Buyer is held harmless, the Seller is not.

[Warren]

Does this delay the sale of Citizens Bank while the court takes it time in deciding who gets paid first and how much? Do you suppose the buyer knew about this issue when they agreed to buy it?

[thelegges]

My spouse worked in multiple hospital groups that filed for bankruptcy. Then sold during the process, to a different group.

All house employees (staff or physicians) that were a value to the next group were paid same rate during the sale. Those positions that were a negative lost, their contract and position prior to sale.

Each time employees were notified of the sale the same time as the public on the purchase.

Within a year total restructuring began, deleting positions, experienced physicians, PAs, NPs were the first to have contacts non renewal. In place newly graduated with less than 6 months from becoming board certified hired.

I know of 6 younger physicians withinTV health with multiple years of experience contract was not renewed end of 2024-2025.

Will there be immediate changes in the system once sale is completed, NO. Will change come within a year probably. Office groups (physicians and staff) will be reevaluated on productivity (how many patients per hour). Some will be replaced by employees already in the system to streamline cost.

[Aces4]

Originally Posted by thelegges

My spouse worked in multiple hospital groups that filed for bankruptcy. Then sold during the process, to a different group.

All house employees (staff or physicians) that were a value to the next group were paid same rate during the sale. Those positions that were a negative lost, their contract and position prior to sale.

Each time employees were notified of the sale the same time as the public on the purchase.

Within a year total restructuring began, deleting positions, experienced physicians, PAs, NPs were the first to have contacts non renewal. In place newly graduated with less than 6 months from becoming board certified hired.

I know of 6 younger physicians withinTV health with multiple years of experience contract was not renewed end of 2024-2025.

Will there be immediate changes in the system once sale is completed, NO. Will change come within a year probably. Office groups (physicians and staff) will be reevaluated on productivity (how many patients per hour). Some will be replaced by employees already in the system to streamline cost.

That's one ugly picture and thought. Good thing this isn't a community that needs good health care at this point in their life, huh! 😜

[tophcfa]

Originally Posted by Warren

Does this delay the sale of Citizens Bank while the court takes it time in deciding who gets paid first and how much? Do you suppose the buyer knew about this issue when they agreed to buy it?

This outcome shouldn’t hold anything up. Citizens provided DIP financing. Providers of DIP financing sit at the top of the food chain as the senior most secured creditors. No other creditors will get a penny until the DIP lender is made 100% whole. As long as the total dollar amount of the DIP loans is less than the sale price, the Citizens First sale shouldn’t be effected.

[rustyp]

Originally Posted by Rainger99

There are so many questions and TVH has failed to provide any answers. They should hold a meeting that is streamed online where they can tell us what to expect in the future so that we can prepare for the enrollment period which starts next month.

How many doctors are staying?
How many people are dropping out of TVH?
Will they take regular Medicare?
Will costs go up?

We got a letter last week one of our primary docs is leaving Santa Barbara Dec 12th. Didn't like the wording. Said something about we can use the PA or a temporary fill in doc until we search for a new PCP. (primary care physician). Yea I don't know what that means either.

[DrMack]

As long as the practitioners can get the job done, who cares? The shareholders and administrators seem to be the real problem.