Alpha Partners, a two-man management team that specializes in resuscitating ailing health care firms, has been selected to take charge of Tustin-based Care Enterprises as it attempts to emerge from bankruptcy.
The partnership was chosen in part because of its success in improving the finances of United Western Medical Center, an organization that operates two hospitals and a skilled nursing home in Santa Ana and Anaheim, said Richard Havel, attorney for the committee representing Care's unsecured creditors.
Brothers Lee Roy and Dee Roy Bangerter relinquished management of the nursing home operator on July 27 at the behest of the creditors.
At that time, another Care official, Robert Baldwin, was named interim chief executive.
Douglas Drumwright and Charles S. Mack Jr. formed Alpha Partners a year ago. Drumwright will now serve as Care's chief executive officer. Mack will assume an unspecified executive role as well.
Havel said Alpha Partners was chosen from a number of applicants by the creditors committee. Havel said Care's board of directors is expected to formally approve the selection Wednesday.
The management team will assist Care in implementing a reorganization plan that, if approved by the U.S. Bankruptcy Court, would enable the company to emerge from Chapter 11 bankruptcy proceedings by the end of March. Care filed for protection from creditors in March, 1988.
Havel said Alpha Partners will manage Care for at least 18 months, during which time they will "find or groom within the company a new CEO."
Drumwright said he will continue to serve as executive officer at United Western Medical Center while Mack will continue as chief operating officer at the hospital organization.