SSG Capital Advisors, LLC (“SSG”) served as the investment banker to Jackson Hospital & Clinic, Inc. and JHC Pharmacy, LLC (collectively, “Jackson Hospital”) in its Chapter 11 Plan of Reorganization (the “Plan”) in the U.S. Bankruptcy Court for the Middle District of Alabama. Jackson Investment Group, LLC, the hospital’s debtor-in-possession lender, provided a $75 million exit facility to fund the Plan and acquire control of Jackson Hospital. The Plan was confirmed in April 2026 and went into effect in September 2026.

Jackson Hospital is a fully accredited, not-for-profit, 344-bed acute care hospital in Montgomery, Alabama. Established in 1946, the health system provides comprehensive medical services, including cardiology, oncology, neurosciences, orthopedics, and women’s and children’s care, along with 24/7 emergency services. As one of the largest hospitals in Alabama by licensed bed count, Jackson Hospital delivers vital care to a broad patient community. Jackson Hospital also maintains partnerships through joint ventures in imaging and surgery, reinforcing its commitment to advanced treatment and community health. The health system’s service area spans 16 counties across central Alabama and the River Region.

For 80 years, Jackson Hospital has served as a cornerstone of healthcare in central Alabama. Despite this history, the health system has historically faced rising costs and stagnant reimbursement rates. These pressures were compounded by breakdowns in revenue cycle management and financial controls starting in 2023, which rapidly deteriorated liquidity and ultimately culminated in a default on its bond obligations. After a proposed bondholder DIP financing stalled and liquidity pressure became urgent, Jackson Investment Group committed to providing a DIP facility, and the hospital filed for relief under Chapter 11 of the United States Bankruptcy Code in February 2025.

SSG was retained in January 2025, shortly before the bankruptcy filing, to explore a range of strategic alternatives. Immediately after engagement, SSG launched a comprehensive sale process targeting a broad universe of strategic and financial acquirers and investors, generating multiple bids for select assets, including going-concern proposals. Following extensive negotiations with investors, bidders, and key stakeholders, the Debtors determined that a Plan with Jackson Investment Group as the exit lender and Plan sponsor would maximize value for creditors and the community. In connection with the Plan, Jackson Hospital reached agreements with several counterparties, including its prepetition bondholders and Blue Cross and Blue Shield of Alabama, a major hospital payor. Jackson Hospital also secured approximately $80 million in funding commitments from the State of Alabama, Montgomery County, and the City of Montgomery. SSG’s extensive Chapter 11 transaction experience and ability to navigate complex, multi-stakeholder situations enabled Jackson Hospital to recapitalize its balance sheet with a change of control, emerge successfully from bankruptcy, and continue providing needed care to its community.

Jackson Investment Group, LLC is an Alpharetta, Georgia-based investment firm and the parent company of Jackson Healthcare, one of the nation’s leading providers of healthcare workforce services.

Other professionals who worked on the transaction include:

• Allen Wilen, Chief Restructuring Officer, Ronald Dreskin*, Interim CEO, and Adeola Akinrinade of EisnerAmper, interim management and financial advisor to Jackson Hospital;
• Derek F. Meek, Jeffrey T. Baker, Erich N. Durlacher, Marc P. Solomon, and Catherine T. Via of Burr & Forman LLP, counsel to Jackson Hospital;
• Christopher L. Richard and Clinton D. Graves of Gilpin Givhan, PC, counsel to Jackson Hospital;
• Stuart H. Memory and Wm. Wesley Causby of Memory Memory & Causby, LLP, conflicts counsel to Jackson Hospital;
• Linda McDonough and Diane Sterrett of 50 Words LLC, strategic communications advisor to Jackson Hospital;
• Paul M. Rosenblatt, Louis Barbieri, III, and Dante Wen of Kilpatrick Townsend & Stockton LLP, counsel to Jackson Investment Group, LLC;
• William A. Ratliff and Clark R. Hammond of Wallace, Jordan, Ratliff & Brandt, LLC, counsel for Jackson Investment Group, LLC;
• Andrew H. Sherman and Boris I. Mankovetskiy of Sills Cummis & Gross P.C., co-counsel to the Official Committee of Unsecured Creditors;
• R. Scott Williams and Fred Clarke of Rumberger Kirk and Caldwell, P.C., co-counsel to the Official Committee of Unsecured Creditors;
• Clifford A. Zucker, Narendra Ganti, and Jonathan A. Bresler of FTI Consulting, Inc., financial advisor to the Official Committee of Unsecured Creditors;
• Douglas Buckley and Amy Caton of Herbert Smith Freehills Kramer LLP, counsel to UMB Bank, N.A.;
• Justin G. Williams of Tanner & Guin LLC, counsel for UMB Bank, N.A.;
• Jeremy L. Retherford of Balch & Bingham LLP, counsel to ServisFirst Bank; and
• Suzanne Koenig of SAK Healthcare, patient care ombudsman

*As of November 2025, President of DRESKIN Healthcare Leadership Advisory