October 20, 2026
Willkie represented the second lien agent and the interests of the second lien lenders in the out-of-court restructuring and recapitalization of BayMark Health Services, Inc.
On October 19, BayMark Health Services, North America’s leading provider of substance use disorder treatment and recovery services, announced that it successfully finalized a strategic transaction with its existing lenders. The transaction resulted in lender ownership of BayMark and included the exchange of second-lien loans for preferred equity and a minority common equity interest, takeback first-lien debt and new-money financing under an amended and restated first-lien credit agreement. Willkie also advised on new corporate governance documents addressing the rights and protections of minority lender shareholders.
The Willkie team was led by partners Greg Gartland and April Doxey and included associates Ashley Shan, Daniel Drobnick, Zain Syedain, Aryan Pour-Bahreini and Kelly Wester and law clerk Hillary Gabriele, with tax support from partner Yaniv Maman and counsel Catherine Harrington.
