Phoenix provides transaction advisory services and guidance to a operator of acute care hospitals.
A large for-profit southeast operator of approximately one hundred and thirty Acute Care Hospitals with annual net revenues of $12.1B developed as part of their long-term strategy the desire to purchase free standing home health agencies.
The company executed a Letter of Intent (“LOI”) to acquire a large home health agency that was located adjacent to one of their owned hospitals. The LOI and Asset Purchase Agreement (“APA”) were negotiated with a firm closing date of June 30. The client lacked the skilled internal resources to perform the necessary due diligence within the timeframe outlined for closing the transaction. In addition, post close, the client required an interim Chief Financial Officer.
Phoenix personnel were retained to provide transaction advisory services and guidance to the client in terms of deal points. The transaction was consummated on June 30 and a seasoned interim Chief Financial Officer was provided for nine months until the client was successful in recruiting a full-time CFO.
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