SSG Capital Advisors served as the investment banker to Jackson Hospital & Clinic and JHC Pharmacy in its Chapter 11 plan of reorganization in the U.S. Bankruptcy Court for the Middle District of Alabama. Jackson Investment Group, the hospital’s debtor-in-possession lender, provided a $75 million exit facility to fund the plan and acquire control of Jackson Hospital. The plan was confirmed in April 2026 and went into effect in September 2026.
SSG was retained in January 2025, shortly before the bankruptcy filing, to explore a range of strategic alternatives. Immediately after engagement, SSG launched a sale process targeting a broad universe of strategic and financial acquirers and investors, generating multiple bids for select assets, including going-concern proposals. Following extensive negotiations with investors, bidders and key stakeholders, the debtors determined that a plan with Jackson Investment Group as the exit lender and plan sponsor would maximize value for creditors and the community. In connection with the plan, Jackson Hospital reached agreements with several counterparties, including its prepetition bondholders and Blue Cross and Blue Shield of Alabama, a major hospital payor. Jackson Hospital also secured approximately $80 million in funding commitments from the State of Alabama, Montgomery County and the City of Montgomery.
Other professionals who worked on the transaction include:
- Allen Wilen, chief restructuring officer, Ronald Dreskin, interim CEO, and Adeola Akinrinade of EisnerAmper, interim management and financial advisor to Jackson Hospital
- Derek F. Meek, Jeffrey T. Baker, Erich N. Durlacher, Marc P. Solomon and Catherine T. Via of Burr & Forman, counsel to Jackson Hospital
- Christopher L. Richard and Clinton D. Graves of Gilpin Givhan, counsel to Jackson Hospital
- Stuart H. Memory and Wm. Wesley Causby of Memory Memory & Causby, conflicts counsel to Jackson Hospital
- Linda McDonough and Diane Sterrett of 50 Words, strategic communications advisor to Jackson Hospital
- Paul M. Rosenblatt, Louis Barbieri, III and Dante Wen of Kilpatrick Townsend & Stockton, counsel to Jackson Investment Group
- William A. Ratliff and Clark R. Hammond of Wallace, Jordan, Ratliff & Brandt, counsel for Jackson Investment Group
- Andrew H. Sherman and Boris I. Mankovetskiy of Sills Cummis & Gross, co-counsel to the Official Committee of Unsecured Creditors
- Scott Williams and Fred Clarke of Rumberger Kirk and Caldwell, co-counsel to the Official Committee of Unsecured Creditors
- Clifford A. Zucker, Narendra Ganti and Jonathan A. Bresler of FTI Consulting, financial advisor to the Official Committee of Unsecured Creditors
- Douglas Buckley and Amy Caton of Herbert Smith Freehills Kramer, counsel to UMB Bank
- Justin G. Williams of Tanner & Guin, counsel for UMB Bank
- Jeremy L. Retherford of Balch & Bingham, counsel to ServisFirst Bank
