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Banner Casa Grande Medical Center is a 177-bed, not-for-profit community hospital providing comprehensive care to Casa Grande and the communities of western Pinal County.  Named a Most Admired Company in Arizona in 2012 and 2013, a Careerbuilder Top Company to Work for in Arizona in 2013 and 100 Great Places to Work in Healthcare by Becker’s Hospital Review 2013, CGRMC also provides a full range of outpatient services, including Urgent Care coverage seven days a week from 9 a.m. to 9 p.m. and a 24-hour Emergency Department. For more information, visit 



Headquartered in Phoenix, Banner Health is one of the largest, non-profit health care systems in the country. The system manages 24 acute-care hospitals, the Banner Health Network and Banner Medical Group, long-term care centers, outpatient surgery centers and an array of other services including family clinics, home care and hospice services, and a nursing registry. Banner Health is in seven states: Alaska, Arizona, California, Colorado, Nebraska, Nevada and Wyoming. For more information, visit


Hammond Hanlon Camp LLC (“H2C”) is an independent strategic advisory and investment banking firm committed to providing superior advice as a trusted advisor to healthcare organizations throughout the United States. H2C’s professionals have a long track record of success in healthcare mergers & acquisitions, capital markets, real estate and restructuring transactions, acting as lead advisors on hundreds of transactions representing billions of dollars in value. Hammond Hanlon Camp LLC offers securities through its wholly-owned subsidiary H2C Securities Inc., member FINRA/SIPC. For more information, go to



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Hammond Hanlon Camp LLC Advises on the Sale of Casa Grande Regional Medical Center to Banner Health
posted on June 10, 2014


CHICAGO – On June 9, 2014, Regional Care Services Corp. (“RCSC”) completed the sale of 177-bed Casa Grande Regional Medical Center  and its affiliates (collectively with RCSC, “CGRMC” or the “Hospital”) to Banner Health (“Banner”).  Hammond Hanlon Camp LLC (“H2C”), a healthcare-focused investment banking firm, served as exclusive financial advisor to CGRMC, leading the sale process to conclusion through a Chapter 11 bankruptcy filing.


CGRMC initially engaged H2C in May 2013 to assist in an evaluation of strategic options.  After a comprehensive analysis of CGRMC and its market, the Hospital elected to pursue a sale that would ensure the community’s ongoing access to a full range of quality healthcare services in Casa Grande.  As a sole community provider in a competitively attractive market, H2C anticipated there would be strong interest in the Hospital among potential acquirers.

In October 2013, H2C began an accelerated, dual track process to find a partner and to prepare for a possible bankruptcy filing, which was identified as a potential requirement to ensure the Hospital’s operations would continue uninterrupted through the completion of the sale process. Like many independent community hospitals, CGRMC faced significant financial challenges as a result of the weakened economy and unfavorable healthcare trends.  


Through a carefully managed sales process that highlighted the Hospital’s unique value, CGRMC received several highly competitive bids prior to the final selection of Banner Health in December 2013.  In exchange for a valuation that repaid all outstanding liabilities, CGRMC agreed to pursue a reorganization under Chapter 11.  Banner additionally agreed to provide CGRMC a subordinated loan to support the Hospital through the bankruptcy process.  The definitive agreement with Banner was signed and the bankruptcy process was initiated in early February 2014.  With the support of bondholders, with which the transaction team worked closely throughout the sale process, CGRMC completed the process from filing to confirmation of Banner as a buyer through Bankruptcy Court within four months.


“The H2C team provided outstanding judgement and guidance, and effectively managed a difficult and complicated process to help us achieve a very successful outcome for our community,” said Rona Curphy, CEO of Banner Casa Grande Medical Center.


Dennis Dahlen, CFO, Banner Health, added, "As we field proposals and participate in other acquisition opportunities, the professionalism and solid design of the process the H2C team put together for CGRMC becomes very clear."


"The CGRMC sale was unique," said Victoria Poindexter, Principal at Hammond Hanlon Camp, LLC. "CGRMC, Banner and their respective advisors designed a transaction that used the Bankruptcy Court process to enable an exceptionally quick sale of the Hospital that resulted in full repayment to all creditors, both secured and unsecured.  We believe the sale to Banner – one of the strongest and most well-regarded healthcare systems in the country – is in the best interest of the Casa Grande community as it will ensure access to comprehensive healthcare services.  H2C is extremely pleased to have had the opportunity to assist CGRMC and we know its Board and management are thrilled."  

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