Case Study:
Physician Practice (Radiology)
Provided financial advisory for the orderly wind down of a physician practice
A multi-location medical group specializing in diagnostic and interventional radiology requested assistance in an orderly wind down of the practice, including resolution of: Current and future payment obligations to active retired partners (~$1.9Mil); Trade payables (~1.2Mil); Bank debt and equipment leases (~$4.7Mil); and unexpired equipment service contracts (~$1.2Mil)
The Solution
Analyzed potential outcomes to individual physician partners in a liquidation scenario (in and out of court)
Analysis of LOI and acquisition scenario including impact on individual physician partners
Provision of sell side due diligence to support asset sale
Direct negotiations with buyers and their capital partners and liaison with professionals
Negotiated with service provides to resolve open contracts and related liabilities
The Results
Sale proceeds of $4.8MIL
Resolution of obligations under equipment service agreements and physician contracts
Preservation of 60 jobs
Services & Roles
Turnaround and Restructuring
Financial Advisory
*Some engagements may have been performed by team prior to joining Harney Partners.
