Sector focus: Healthcare
According to Debtwire’s database, the healthcare sector has been dominating restructuring activity in 2025, accounting for 17% of all Chapter 11 filings tracked so far this year. Changes in federal health policy, cuts to Medicare/Medicaid and continued macroeconomic uncertainties have meant that there is considerable pent-up demand for restructuring in the health services markets, including hospitals and clinical practices. Our panel of experts will discuss:
- What are some of the ongoing tailwinds impacting the sector?
- How are recent legislative and regulatory updates impacting the pace of restructurings in the sector?
- Where is there the most restructuring activity taking place, such as hospitals and senior care practices?
- What does the 2026 restructuring pipeline look like?
Speakers
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David J. Cohen is a partner in Weil’s Restructuring Department and is based in New York and Miami, where he serves as Co-Managing Partner of the Miami office. David has extensive experience representing debtors, secured and unsecured creditors, sponsors, lenders, bondholders, acquirors, and other key stakeholders in U.S. and cross-border corporate restructurings, both in-court (including chapter 11, chapter 15, receivership, and other insolvency proceedings) and out-of-court, as well as in liability management transactions, distressed financings, and distressed M&A matters across a wide range of industries.
David advises companies, sponsors, ad hoc creditor groups, DIP lenders, secured lenders, and other creditors in complex restructurings, recapitalizations, and related transactions. He has been recognized as a “Rising Star” in Bankruptcy by Law360, an “On the Rise” attorney by the Daily Business Review, an “Emerging Leader” by The M&A Advisor, and an “Outstanding Young Restructuring Lawyer” by Turnarounds & Workouts. He has also been included among Lawdragon’s 500 Leading Global Bankruptcy & Restructuring Lawyers and its Lawdragon 500 X – The Next Generation list.
David regularly speaks on bankruptcy and restructuring panels and has been a guest lecturer at the University of Miami School of Law and University of Florida Levin College of Law.
HONORABLE STACEY G. C. JERNIGAN
Chief Judge, United States Bankruptcy Court
1100 Commerce St., Room 1254
Dallas, TX 75242-1496
214-753-2040
Judicial History: Appointed to the United States Bankruptcy Court for the Northern District of Texas,
Dallas Division, on May 12, 2006. Over 200 written opinions may be accessed at www.txnb.uscourts.gov
Prior Legal Experience (Private Practice): Practiced 17 years in the Business Reorganization and Bankruptcy Practice Group at Haynes and Boone, LLP (Dallas, TX office), 1989-2006. Head of Bankruptcy Practice Group (2000-2006); Partner (1997-2006); Associate (1989-1996). Represented all types of parties-in-interest in large Chapter 11 cases and out-of-court workouts. Specific industry expertise: energy companies; healthcare and other regulated entities; real estate businesses; public companies.
Prior Legal Experience (Public Sector—Special Assignment): Adviser to the California Legislature (Speaker of the Assembly Robert Hertzberg), Sacramento, California (Jan.-Aug. 2001), in connection with the California utility financial crisis involving PG&E utility company.
Teaching: Adjunct Professor, SMU Dedman School of Law, Creditors Rights.
Recent Speeches and Panel Presentations:
- Elder Fraud, FJC Workshop for Bankruptcy Judges, St. Petersburg, FL (Apr. 2025) and Minneapolis, MN (July 2025).
- Mass Torts and Existential Threats to Corporate Entities, 43rd Annual University of Texas/Jay L. Westbrook Bankruptcy Conference, Austin, TX (Nov. 2024).
- First, Do No Harm: Overseeing Bankruptcies in Hospitals and Other Critical Care Settings, FJC Workshop for Bankruptcy Judges, Overland Park, Kansas (June 2024).
- Non-Profit Companies in Bankruptcy, Joint ABI/NCBJ Program, Seattle, WA (Sept. 2024).
- Bankruptcy Judges Panel, Univ. Of Chicago/BYU Winter Bankruptcy Conference, Deer Valley, Utah (Mar. 2024).
- Arbitration in Bankruptcy, ABI Winter Leadership Conference, Scottsdale, AZ (Nov. 2023)
- Chapter 11 Issues, 42nd Annual University of Texas/Jay L. Westbrook Bankruptcy Conference, Austin, TX (Nov. 2023).
- Views from the Bench, ABI Conference, Washington, DC (Sept. 2023).
- Bitcoin and Cryptocurrency, ABI Southeast Bankruptcy Conference, Amelia Island, FL (July 2022).
- Fifth Circuit Cases that Every Bankruptcy Lawyer Should Know, State Bar of Texas Bankruptcy Bench-Bar Conference, San Antonio, TX (June 2023).
- Hot Topics in Healthcare: What to Do When the Stimulus Money Runs Dry? 41st Annual University of Texas/Jay L. Westbrook Bankruptcy Conference, Austin, TX (Nov. 2022).
Professional Memberships and Honors: Board Certified in Business Bankruptcy Law by the American Board of Certification; Member, National Conference of Bankruptcy Judges (International Committee and Security Committee); Fellow, American College of Bankruptcy (frequent speaker at its conferences); Fellow, Texas Bar Foundation; Fellow, Dallas Bar Foundation; Master, former Board Member, Serjeant of the Inn, and occasional Bankruptcy Course Instructor for John C. Ford American Inn of Court; Member, American Bankruptcy Institute (frequent speaker at conferences); Bankruptcy Observer to Fifth Circuit Judicial Council; Member, State Bar of Texas Bankruptcy Section; Member, Dallas Bar Association Bankruptcy and Commercial Law Section; Co-Chair of the Center for American and International Law’s Biennial Fifth Circuit Bankruptcy Bench-Bar Conference, New Orleans, LA (2016, 2018, 2020, 2022, 2024); Judicial Co-Chair of the National “Roadways to the Federal Bench: Who, Me? A Bankruptcy Judge?” (a diversity and inclusion event sponsored by the Judicial Conference of the United States Committee on the Administration of the Bankruptcy System)); Planning Committee for the Annual University of Texas/Jay L. Westbrook Bankruptcy Conference, Austin, TX (for approximately 20 years).
Miscellaneous Publications: Fiction legal thrillers: Mystic Spires Post-Mortem: A Cold Case Legal Thriller, ISBN: 978-1-61254-725-1 (Brown Books Publishing Oct. 14, 2025); He Watches All My Paths, ISBN: 978-1-79406-707-3 (Amazon Books 2019); Hedging Death, ISBN: 978-1-63363-581-4 (White Bird Publications 2022).
Education: J.D., University of Texas School of Law, 1989; B.B.A., magna cum laude, Southern Methodist University, 1986.
Personal: Married to a retired Dallas Police Officer. Mother to two adult children and two Cavalier King Charles Spaniels. The family enjoys international travel.
Matthew is a General Partner and the head of OrbiMed’s Royalty and Credit Opportunities team. He has been with OrbiMed since 2010 and helped launch the firm’s first dedicated royalty and credit fund. He has led over $6 billion of investments in the structured credit and royalty space. Prior to joining OrbiMed, Matthew was responsible for pharmaceutical licensing and acquisitions at Ikaria. He has worked in healthcare for 30 years, including life sciences investing at Fortress Investment Group and global commercial strategy at GSK. Matthew received his M.B.A. from Duke University with a concentration in Health Sector Management. At OrbiMed, he is focused on providing structured capital solutions to fund growth across healthcare and life sciences.