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December 2, 2009
Serving U.S. Hospitals and Hospital Systems
Chadds Ford, PA ” December 2, 2009 ” Phoenix Management Services has launched a healthcare practice group that will focus on financial and operational assessments; restructuring and turnaround; mergers, acquisitions and divestitures; interim management and executive search for hospitals and hospital systems throughout the U.S.
Phoenix’s Healthcare Practice will be led by healthcare industry veterans Ken Doran and Will Moore, who have over 50 years of collective experience bringing financial and operational improvement services to nonprofit and for-profit healthcare organizations. The expansion will enable Phoenix to offer expertise to healthcare organizations throughout the U.S. in areas including strategic planning, board guidance, descriptive memorandum, identification of acquisition candidates, turnaround and crisis management, operational reviews and business assessments, post-transaction integration services, facility alternative use evaluation and executive placement.
“Our goal is to bring the quality work Phoenix is known for into the healthcare sphere,” said James Fleet, Phoenix Management Services. “We aligned ourselves with an experienced team of professionals who have demonstrated measureable success in today’s changing healthcare environment. Ken and Will have deep expertise in the healthcare industry and bring tremendous knowledge and relationships with C-level executives to our team. We have collaborated with them on numerous engagements and find their approach to be consistent and complementary to ours.”
Moore and Doran have backgrounds in acute care, working in institutional healthcare, home health, managed care and long term care. They have successfully navigated organizations through unique challenges to restructure, turnaround, buy, sell, increase operating performance and ensure compliance.
“Combining the strength of Phoenix’s operational and restructuring experience with our industry knowledge and resources will bring tremendous value to the healthcare sector, especially nonprofit organizations that are facing tough times due to a decline in philanthropy and lost investment income,” said Doran. “Our end goal is to create better healthcare networks in communities throughout the U.S. to better serve employees, physicians and, most importantly, the patients.”
“We”ve seen radical changes in the health system, forcing organizations to refocus on operating income in order to get back to positions of financial strength,” added Moore. “Until we see changes in access to healthcare or an increase in jobs, it will continue to be critical for management in healthcare organizations to proactively address these financial issues.”
Moore is a Certified Public Accountant, Certified Insolvency Restructuring Advisor and a fellow in the Healthcare Financial Management Association (HFMA). He earned a B.A. in accounting from The University of Kentucky and an MBA from Vanderbilt University’s Owen Graduate School of Management. Doran is also a Certified Public Accountant and a member of HFMA. He earned a Bachelor’s in business administration from the University of Cincinnati.
Phoenix Management Services is an operationally focused advisory firm, providing turnaround, crisis and interim management services to middle market companies in transition. Since 1985, Phoenix has aggressively advocated on behalf of its clients in over 900 assignments nationwide by providing tangible operating solutions, effecting real change and performance improvement.
Phoenix Capital Resources specializes in providing capital advisory services to middle market companies in transition. As an operationally focused firm, Phoenix Capital assists distressed and growth-oriented companies with complex transactions including re-financings, restructurings, capital raising, mergers and acquisitions, recapitalizations and auctions in the context of a bankruptcy. Phoenix Capital’s mission is to maximize transactional value and return on investment for its clients.
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