A 166 bed, 200,000 square feet acute hospital, part of a major regional health system in the Southwest, was in trouble. chi principals, employing the innovative techniques discussed here, successfully redefined and redeveloped an underperforming asset to meet these objectives:
OPTIMIZE REVENUE OPPORTUNITIES
REDIRECT EXISTING RESOURCES
MONETIZE THE ASSET
IMPROVE FINANCIAL POSITION
MAINTAIN SERVICES IN THE COMMUNITY
Result: Cash was generated to effectively retire outstanding debt. The resulting profitable multi-specialty, sub-acute facility was subsequently sold to Montecito Medical, a private equity firm, with a degree of competitive control retained to protect the remaining system in the regional market.
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