by dmccarron | Dec 1, 2015 | Select Engagements
CCA serves in a financial advisory capacity to the Board of Directors of a community based not-for-profit skilled nursing provider in the Greater Boston market area.
Recent initiatives have included the introduction of a distinct short-stay unit of operations to accommodate increasing post-acute and rehabilitative service programing. This initiative was undertaken by reducing licensed bed capacity to accommodate the conversion of an existing long-term care unit to establish 20 private room accommodations; introduction of common area amenities; and reconfiguration of more customized resident support areas. The unit renovation and conversion was funded through extended capital provided by existing lenders interests.
The strategic business plan ideally introduces more distinct and customized post-acute programming responsive to market trends and demands of emerging ACO providers as well as other primary referral sources.
by dmccarron | Dec 31, 2014 | Select Engagements
CCA has served in business and financial services capacity to a community not-for-profit senior campus provider of skilled nursing and assisted living operations located in Cambridge, MA.
Recent initiatives have included the completion of $20MM in combined recapitalization transactions with a single regional commercial healthcare lender. Proceeds of the transactions were utilized to refinance and retire existing debt obligations through a private placement revenue bond issue and term debt credit facility; early redemption of a prior revenue bond issue; discounted settlement and retirement of multiple subordinated debt obligations; purchase redemption of interests associated with terminating a tax credit partnership; and funding of new endowment and operating reserve accounts for continuing operations.
The resultant transactions materially improve the capital structure of the company through realization of liquid collateral associated with prior debt obligations as well as a material increase in unrestricted net assets represented by the discounted settlement and elimination of subordinated debt. The renewed and strengthened capital structure ideally supports new programming initiatives as well as prospects for emerging fund raising activities for continuing operations.