Hospital Partners gets court OK for $2.6 million DIP loan

By Jennifer Lanning Drey

Portland, Ore., Oct. 20 - Hospital Partners of America was granted court approval to obtain $2.6 million in debtor-in-possession financing from New Enterprise Associates 10, LP, according to a source familiar with the case.

The approval came Monday from the U.S. Bankruptcy Court for the District of Delaware and represents an increase over the $2.25 million that was originally requested.

Interest will be 10%.

The DIP facility will mature on Nov. 21, according to the source.

Hospital Partners of America, a Charlotte, N.C.-based privately held company that develops and operates hospitals, filed for bankruptcy on Sept. 24. Its Chapter 11 case number is 08-12180.

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