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Financial Advisory - Engaged as Financial Advisors to
secured lenders associated with a $226MM securitized credit facility associated
with over eighty (80) long-term care nursing and assisted living facilities
located in Texas and Illinois and involved in a Chapter 11 Bankruptcy
Proceeding. Currently serve and support an independent Director role of the
restructured and reorganized debtor company having successfully emerged from
bankruptcy in November 2003. |
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New Project Development - Developed,
owned and operated a 76 unit Assisted Living Facility in southern New Hampshire
representing a capital investment of $12MM. This project was specifically
designed and operated to serve a dementia and memory impaired resident
population in a residential setting. Further campus development has included the
strategic integration of added assisted living and independent living products
representing capital investments aggregating in excess of $25MM. |
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Replacement Project Development - Engaged as turnaround
managers associated with a 112 bed skilled nursing facility controlled by the
City of Cambridge in Massachusetts and experiencing deteriorating operating
losses exceeding $2MM annually. The strategic plan included stabilization of
existing operations, introduction of replacement owners and divestiture of the
asset.. This plan concluded with the development of a replacement nursing
facility representing a capital investment of $15MM and introducing an assisted
living component to the project. |
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Acquisition - Participated with a
group of investors representing the successful acquisition bid for a 164 skilled
nursing facility in bankruptcy and located in Massachusetts. Served as operators
and advisors associated with repositioning, recapitalizing and renovating this
asset. Strategic initiatives included the successful renegotiation of
specialized Pediatric program rates, labor union contract concessions,
elimination of nursing agency and material census improvements. Current efforts
include the further expansion of the project campus representing over 12 acres
of developable property. |
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Divestiture - Engaged in an operations improvement capacity
to a regional hospital provider in the Cape Cod area of Massachusetts involving
a distressed 82 bed skilled nursing facility. This engagement evolved into a
full scope management capacity. Material operating losses were eliminated and
regulatory compliance was restored while this asset was positioned for
divestiture. This asset was recapitalized on an interim basis, subsequently sold
and is currently operating as a premier sub-acute nursing facility in its market
area. |
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Capital Formation - Represented
owners and operators of long-term care facilities located in Massachusetts,
Connecticut, Pennsylvania, Kentucky, Iowa and Tennessee representing over 30
facilities and 3,000 beds. Provided financial advisory and operations consulting
services in connection with capital acquisition and re- financing initiatives
representing invested capital exceeding $250MM. |
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Asset Management - Served lenders and investors
representing credit interests in long-term care and senior housing properties
throughout the United States. Provided oversight management, operational
consulting and reporting services for commercial lenders and institutional
investors representing credit interests involving over 50 properties and
invested capital of over $250MM. |
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Operations Improvement - Engaged as
strategic advisors and replacement managers for a 123 bed skilled nursing
facility located in Boston, Massachusetts experiencing severe challenges in both
clinical care and financial management. Owned by a major hospital health system
provider, this asset was stabilized and achieved EBITDAR improvement from a $2MM
operating loss to a $1MM operating profit within twenty four months. This
facility was successfully purchased by interests representing the replacement
managers. |
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Clinical Consulting - Engaged as clinical consultants and
turnaround managers to a 164 bed non-profit skilled nursing facility owned by a
university hospital and healthcare system in New England. Situated on the
university campus and medical school, this facility was experiencing operating
losses exceeding $3MM annually and was threatened with closure by regulatory
authorities. The facility has now achieved regulatory compliance evidenced by a
deficiency free survey and near break-even operating performance. This asset is
currently being marketed for sale. |
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Turnaround Management – Served in the
executive management capacity for a distressed public company providing
healthcare management and ancillary services to the long-term care industry with
operations in New England, Pennsylvania, Maryland, Georgia, Ohio and California.
Provided strategic advisory, reorganization and disposition services in
connection with redirecting distressed business operations. |
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Oversight Management - Engaged through Secured Creditor
interests of multiple long-term care and assisted living facilities located in
Virginia and North Carolina representing 24 properties and over 2700 beds.
Provided financial advisory, operations consulting and oversight management
services in connection with developing and implementing strategic business plans
for continuing operations. Provided direct assistance in supporting lender
relations representing defaulted senior credit interests exceeding $115MM. |
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Credit Default Resolution - Engaged
by the New Hampshire Housing and Finance Authority in connection with resolution
of monetary credit defaults associated with a portfolio of privately owned
senior housing and assisted living facilities. Served in a financial advisory
and consulting capacity positioning for replacement management and foreclosure
proceedings. Our intervention resulted in restored compliance for the conditions
of default and the avoidance of planned legal proceedings. |
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Strategic Advisory - Engaged as strategic advisors and
operational consultants associated with a family owned nursing and assisted
living facility located in New Hampshire. Strategic initiatives achieved
included a recapitalization of the project with HUD financing; Medicare and
Medicaid certification to achieve maximum skilled nursing capacity; marketing
and census development of the ALF component to exceed 92% occupancy; and the
development of improved financial and clinical practice standards. |
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Strategic Development - Engaged in an
executive management capacity and served as Chief Financial Officer for a
regional long-term care provider in New England. Served as the primary executive
resource responsible for transactional growth and capital formation associated
with the emergence of this private long-term care provider resulting in
multi-facility operations comprised of over 15 properties representing nearly
2,000 beds. The Company was subsequently sold to a national provider. |