Assisting a Healthcare Company Through the Sale Process

Oncology Hematology Care (OHC)

Cincinnati, Ohio

Challenge

50 doctor private cancer practice. $250 million revenue. $30 million debt. 17 locations in 3 states. Market leader in Southern Ohio.


  • Founding partner retired and left leadership gap for multiple years
  • Company burned thru $17 million of cash with billing cycle problems and failing to address money losing locations and physicians’ compensation issues
  • Company had weak financial controls and systems
  • New Management team was all non-healthcare industry managers
  • Company was almost out of cash and in default of its loan agreement

Solution

  • Focus on billing cycle issues and collecting old accounts receivable to generate cash
  • Adjust physicians compensation to be a function of current cash situation
  • Reduce costs across in all areas
  • Encourage some physicians to seek alternative employment
  • Reposition Company for sale to large hospital system and assist with sale

Results

  • Company was successfully sold in two separate transactions.
  • Physician owners received a meaningful equity distribution and long-term financial stability for their practice.

Daniel F. Dooley

Dan Dooley, CTP, is a Principal and CEO at MorrisAnderson based out of Chicago. He has a strong national reputation in crisis management, operations improvement, debt refinancing/restructuring and C-level positions. He is a frequent speaker at industry conferences and a regular author for industry periodicals. Dan has served on the Board of Directors of both… Read More