Mazzone & Associates advised ValorBridge Partners in their acquisition of Cornerstone Medical Center

Mazzone & Associates is pleased to announce that it served as the advisor to ValorBridge Partners in its acquisition of Cornerstone Medical Center, a hospital located in Fort Oglethorpe, Georgia. Formerly known as Hutcheson Medical Center, the hospital has been serving the Walker, Dade and Catoosa Counties since the 1970s. In recent years, the hospital has been negatively impacted by growing unfunded care and decreasing patient volumes. In 2014, the hospital filed for Chapter 11 protection while continuing to operate the business.

In partnership with ApolloMD, ValorBridge has been managing the operations of the business since December 2015 when they were appointed debtors-in-possession. In May 2016, ValorBridge successfully acquired certain assets of the hospital from the bankruptcy’s trustee. ApolloMD provides ongoing physician and management services to Cornerstone and supports hospital operations as they build emergency services patient volumes. The hospital offers vital emergency medical services as well as certain inpatient services to the North Georgia communities.

Christopher Durham, the General Manager at ValorBridge expressed his appreciation for Mazzone & Associates by stating, “For many reasons, Mazzone & Associates is our partner of choice in our merger, acquisition and growth capital investment activities. Their capital markets experience enabled us to swiftly execute during the transaction phase, and their experience as operators proved to be invaluable while managing the operations of the hospital as debtors-in-possession.”