Hospital operator loses 3 top executives, closes 5 facilities

Ayla Ellison -

Houston-based Nobilis Health, which closed two clinics in mid-September, has been assigned a temporary receiver for its assets and shut down three additional surgical hospitals in Texas, according to the Houston Business Journal.

Nobilis Health closed Kirby Surgical Center in Houston, Plano (Texas) Surgical Hospital and Uptown Surgery Center of Plano Surgical Hospital in Dallas on Sept. 27, according to a Securities and Exchange Commission filing.

The closures came after Nobilis shut down Scottsdale (Ariz.) Liberty Hospital and Surgeons' Premier Medical Center in Sugar Land, Texas, on Sept 13. The company's president Kenneth Efird resigned the same day, according to the Houston Business Journal.

Mr. Efird is one of three executives who resigned last month. Brandon Moreno, the company's CFO, and Marissa Arreola, chief legal officer, resigned Sept. 6.

Nobilis has faced other setbacks in recent months. The company faces delisting from the New York Stock Exchange, and a district court in Texas ordered the appointment of a temporary receiver for the assets of Nobilis and its subsidiaries on Sept. 24.

In a Sept. 27 filing with the SEC, Nobilis said BBVA Compass Bank is demanding payment of more than $123.21 million related to the company's credit agreement. The bank is also demanding payment of $7.75 million related to matured loans in Nobilis' super priority credit agreement, according to the Houston Business Journal.

Nobilis owns, operates, manages or co-manages more than 60 hospitals, clinics and ambulatory care centers in Texas and Arizona, according to the company's website. Nobilis recorded nearly $300 million in revenue in 2017, which is the most recent annual report available, according to the Houston Business Journal.

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