Case Studies
J.S. Held Acquires Shechter & Everett to Expand Forensic Accounting Capabilities for Family Law Disputes in Florida
Read MoreIndustries: Services, Healthcare
Primary Services: Business / Operational Assessments, Financial Forecasting, Bankruptcy Advisory
A Multi-Site Hospital System of 410 licensed beds representing $170 million net revenues and 850 FTEs had experienced revenue declines and overall operating performance shortfalls and as a result, sought protection in the Bankruptcy Courts.
The Company’s senior lender was concerned and required a deeper understanding of the inherent risks of its existing secured collateral position and an evaluation of the potential of management’s reorganization plan for the Company as it sought to emerge from Chapter 11 proceedings.
Our experts completed a detailed, onsite financial and operational review of the Company’s operating facilities. During its assignment we completed an evaluation of current business plans and in-depth senior management interviews, which resulted in identification of specific initiatives relating to revenue cycle management, labor/non-labor expense, and patient volume and care management. Ultimately, our experts established that the Company’s operations supported the secured position of the Bank’s existing debt, as well as supporting a possible extension of Debtor In Possession (“DIP”) credit facility terms during the bankruptcy process. Further, the Bank was able to better understand the likelihood of the Company’s emergence from bankruptcy, under what capital structure and anticipated operating performance and working capital requirements.
Brian F. Gleason, CTP
Senior Managing Director
Strategic Advisory Practice
+1 610 659 8118
[email protected]
> Bankruptcy Advisory
Navigating bankruptcy is inherently complex, often involving struggling businesses, litigation, incomplete or inaccurate financial records, potential fraud, and other challenges, in addition to strict court-mandated processes. Our experienced team of turnaround and restructuring experts seamlessly guides clients throughout the process to optimize outcomes for lenders, creditors, shareholders, and employees.
> Business / Operational Assessment
Most consulting firms approach a business assessment from a purely financial perspective — our assessments provide a 360° view of a business, addressing growth drivers, profitability, and uses of capital. Along with detailed financial performance reviews and cash flow forecasting, our comprehensive Business / Operational Assessment identifies the various challenges clients encounter throughout their operations.