Financial advisor to the official committee of unsecured creditors
Learn more »Force 10 Industries
Healthcare
Force 10 offers valuable insights and guidance to help healthcare providers navigate the complex and ever-changing landscape. By partnering with Force 10, providers can develop a strategic roadmap for achieving long-term stability and expansion. With a focus on innovation and efficiency, Force 10 empowers healthcare organizations to adapt and thrive.
Healthcare challenges
Achieving a balance between financial constraints and operational efficiencies while placing a premium on patient care, is a complex challenge that requires a deep understanding of the industry’s unique dynamics and an ability to navigate its constantly changing landscape:
- Effective healthcare management requires a strong focus on patient-centered care as a top priority.
- Providers are under significant financial pressure due to rising labor and material costs, declining reimbursement rates, and the need to invest in expensive technology and infrastructure.
- Operational challenges in healthcare include inefficiencies in administrative processes, inadequate staffing levels, and difficulties in coordinating care across multiple providers and settings.
A Unique Combination
Our team of healthcare executives (including hospital CEOs, CFOs, Chief Nursing Officers, Chief Medical Officers) has managed all types of venues from acute care hospitals to acute rehabilitation, long-term acute care hospitals (LTACHs), skilled nursing facilities (SNFs), home health, clinics, behavioral health, and managed services organizations (MSOs).
Coupled with Force 10’s financial restructuring prowess and proven track record of successful healthcare engagements, we can help organizations across the care spectrum to transform adversity into opportunity.
Key components of our process
- Revenue Cycle & cash flow management
- Expense reductions
- Long-term debt structure and capacity
- Resource utilization
- Population Health – full-risk capitation
- Length-of-stay management
- Clinical service lines
- Post-acute product lines
- Primary care networks
- Regulatory compliance
- Medical staff leadership
- Strategic partnerships
THE FORCE 10 APPROACH
Understanding and addressing these challenges and restoring organizational stability requires deep industry knowledge, the ability to implement a mix of proven and innovative measures, and credibility earned through a track record of success.
Our unparalleled team has extensive hands-on operating experience across the healthcare continuum. Our deep expertise in financial restructurings leverages all of the tools and approaches needed to find the best path forward. Bringing together knowledge of healthcare with the ability to address financial adversity, we develop efficient, sustainable operating models, create long-term stability, and find new opportunities for growth.
Our approach is straightforward and proven. We work with you and your team to assess the situation and create practical strategies to restore strength and stability. Our recommendations are bold but grounded in realistic considerations. Together, we collaborate to ensure successful implementation.
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Healthcare Performance Improvement Team
Healthcare Engagements
Force 10 guided the Official Committee of Unsecured Creditors in Cano Health’s Chapter 11 bankruptcy, helping secure improved creditor recoveries and a streamlined reorganization plan that positioned the company for sustainable operations.
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Force 10 was initially engaged to serve as Chief Restructuring Officer and provide bankruptcy accounting services for this assisted living community. Facing challenges with the broker-led approach to maximizing the estate asset’s value, we repositioned the facility’s highest and best use and marketed it accordingly. This strategic shift culminated in a sale to a buyer we identified, achieving a price nearly 50% higher than the original valuation.
Learn more »Provide operational and financial due diligence services
Learn more »Force 10 was retained to provide solvency and voidable transfer analysis to support defense of prior equity owner of an affiliate of Chapter 11 debtor.
Learn more »Support out-of-court workout of municipal bond indebtedness
Learn more »Out-of-court wind down of operations and assets
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Engaged by the County of Madera to address critical healthcare needs, Force 10 conducted a thorough assessment to evaluate the feasibility of reopening a local hospital. By identifying sustainable service lines, optimizing resources, and facilitating key partnerships, we helped secure a bankruptcy reorganization plan that ensures long-term care for county residents.
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Prepared detailed valuation to support company's restructuring objectives.
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Envision Healthcare, heavily impacted by the COVID-19 pandemic and the No Surprises Act, filed for Chapter 11 bankruptcy in May 2023 to restructure its debt and address operational challenges. Force 10 Partners, as financial advisor to the Official Committee of Unsecured Creditors, played a key role in identifying unencumbered assets and shaping a consensual reorganization plan. This plan, confirmed in October 2023, paved the way for Envision and AMSURG to operate as independent entities, each positioned for growth in today’s evolving healthcare landscape.
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Force 10 safeguarded creditor interests and shaped a successful reorganization plan in Eye Care Leaders’ Chapter 11 bankruptcy, enabling the company to emerge with a stronger financial foundation and a path to operational stability.
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Force 10 acted as the financial advisor to the Debtors of this group of urgent care centers during a Chapter 11 process.
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Force 10 spearheaded a comprehensive financial restructuring for this healthcare organization, which was grappling with severe liquidity constraints and substantial vendor liabilities.
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Force 10 served as financial advisor and negotiated cash collateral with its secured lender to collect outstanding receivables to fund an orderly wind-down of operations for a group of rehabilitation and recovery centers in California. The insiders abandoned the company early on in the Chapter 11 case, and Force 10 stepped in to support the conversion to Chapter 7 and continue the orderly wind down. We then supported the Chapter 7 trustee in various avoidance actions.
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Liquidation Trustee of the trust created for the benefit of the allowed general unsecured claims under the confirmed Plan of Liquidation related to Madera Community Hospital’s Chapter 11 bankruptcy.
Learn more »Force 10 served as operating Receiver to a non-debtor affiliate of a Chapter 11 Debtor.
Learn more »Force 10 professionals took over the operations of this ambulatory surgical center, which was challenged by a lack of liquidity and fraud-like activity. We facilitated scheduled procedures to ensure continuity of patient care and oversaw an orderly wind-down as the facility would never generate a return for investors and lacked leadership. The insider was subsequently investigated for fraud.
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As financial advisor to the Debtor and Trustee, Force 10 helped to stabilize and return this full-spectrum drug addiction treatment center to profitability, facilitating a successful sale.
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Force 10 served as financial advisor to this rural hospital undergoing a Chapter 9 Reorganization.
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As financial advisor, Force 10 assisted in negotiating a consensual Plan of Reorganization with municipal bondholders, the PBGC, and unsecured creditors of this hospital system in West Virginia by issuing new tax-exempt debt.
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Force 10 provided a Chief Restructuring Officer and financial advisory services to the Debtor, a hospice and home health care provider, guiding the company to become cash flow positive. We then oversaw the sale of its business segments during the COVID-19 pandemic while maintaining uninterrupted patient care.
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Force 10 served as financial advisor and later Chief Restructuring Officer to Watsonville Hospital Corporation during its Chapter 11 bankruptcy. Facing severe financial and operational challenges, Force 10 stabilized the hospital, secured Debtor-in-Possession financing, and facilitated its successful sale to a newly formed healthcare district. These efforts ensured the hospital's continued service to its underserved community.
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