Medium sized community hospital acquisition / partnership with growing health system
Local not-for-profit community hospital was in a non-competitive situation and losing market share. Board of Directors engaged firm to evaluate strategic options and make recommendations. Hospital was also at risk of defaulting on tax exempt bonds which would have had negative credit risk impact on local community. Hospital entered into strategic operating lease with health system which stabilized financials and in turn supported long term debt. Within two years of transaction, Board of Directors supported converting lease into acquisition and absorbing hospital into fully controlled asset.
Physician-owned hospital development / partnership with leading health system
Physician-owned hospital became operational in December 2010 and granted provider based status and compliance with CMS. Due to passage of health reform legislation by Congress in March 2010, construction of facility had to be accelerated to meet deadline imposed by new regulations. Working with all the parties involved to meet the deadline, the hospital was delivered to operations in September, equipped and trained staff in October, first cases in November and accredited visit in December.
Physician-owned hospital acquisition / partnership with leading health system
Represent the physician ownership group in its divestiture of equity interest to a leading health system in a growing market. Hospital was developed by physician partners prior to March 2010 passage of health reform legislation. Leading health system expressed interest in acquiring majority interest in facility and reorganize operating company. Firm represented physician owners and led due diligence team in assessment of fair market value offer and execute transaction.
Large healthcare focused REIT acquisition of on campus MOB's
Represented healthcare focused REIT in sourcing and identifying portfolio of on campus MOB's associated with hospital organization. Led team in due diligence of transaction and recommendations for use post deal to maximize asset value to buyer.