Managed divestiture of underperforming emergency rooms and optimized operations
Client was contracted to operate 400+ emergency rooms. In addition, the company had three HMO’s, a billing company, 14 primary care clinics, and a government contracting division providing healthcare at certain military installations.
Appointed EVP-CFO to oversee the financial and treasury functions
Guided the business through a period of financial distress
Responsible for SEC reporting, annual audit and financial management of the subsidiaries
Managed cost savings projects and business unit evaluations
Responsible for borrowing base reporting and cash flow management
Oversaw divestiture of certain underperforming business units
Implemented expense approval process
Worked with outside counsel on resolution of billing issues
Negotiated amendments to the Company’s credit agreements
Improved billing and collection practices
Services & Roles
CFO to oversee financial and treasury functions
*Some engagements may have been performed by team prior to joining Harney Partners.