LENDING

DEBT/EQUITY SERVICES

A majority of our work is done for banks, finance companies, and investors who lend to or invest in healthcare companies.

Field Exams- These are reports designed to provide the lender or investor with timely evaluations to support decision making regarding their loans or investments. Typical exams include:

Asset Based Exams – Reports are provided to healthcare asset based lenders that derive the security for their loans by specific assets of a borrower, primarily accounts receivable and occasionally inventory and equipment. Engagements typically focus on providing an overview of the business and its financial information, an understanding of the assets securing the loan, and a valuation of those assets as well as potential offsets to those assets. Limited procedures are also performed on cash, accounts payable, payroll taxes and insurance. Lenders typically do field exams prior to closing a transaction with a prospective borrower and then on a periodic basis after closing.

Real Estate Exams – Reports are provided to lenders that are providing a real estate loan to a healthcare provider. Reports focus on validating financials of the prospective borrower, confirming payment of taxes, and providing information on the physical improvements to the real estate being financed.

Quality of Earning Exams – We complete an analysis of a healthcare company’s revenues and expenses to determine the overall reasonableness of reported earnings. This analysis can be an invaluable tool to our clients given the nuances related to healthcare reimbursement and the opportunities provided for companies to be overly aggressive in their recognition of revenue.

Acquisition/Investment Due Diligence- Our staff can help you in your analysis of both the financial and operational aspects of a transaction prior to making an investment. Engagements typically include a validation of historical financial results, analysis of projections, review of all aspects of the revenue cycle, a valuation of receivables, and a review of potential offsets to revenue and receivables.

Back Office Operations – Our extensive experience in healthcare asset based lending allows us to provide additional services to lenders including:

Underwriting Services – In addition to providing field exams our staff can provide underwriting services customized to our client’s format.

Portfolio Servicing – Our staff can provide complete back office services allowing the lender to have the necessary expertise while limiting the resources committed by the lender. This is ideal for smaller lenders and lenders new to healthcare asset based lending or lenders expanding into healthcare asset based lending.

Back Office Setup – We can assist the lender in setting up internal back office operations

Interim/Crisis Management- Our team includes staff that have served in a variety of financial positions on both an interim basis and during crisis situations. We work closely with our clients to quickly assess the situation, come up with an action plan, and work out solutions that are in the interest of our clients. We realize that communication is essential and keep our clients fully informed of developments.

Liquidations- We can and have been engaged to protect a client’s interests by overseeing the liquidation of a borrower or certain assets of a borrower in order to maximize the return to our clients on the assets that support their loan or investment.

Forensic Accounting – We have been engaged to utilize our accounting, auditing, and investigative skills to assist in the investigation of financial and business related issues. At times our findings have been used to support legal proceedings.