CASE STUDIES:

Industries

Healthcare, Services

Role

Receiver

Challenge

Advanced CFO was appointed Receiver by Washington State Court to manage and oversee three medical clinics near Vancouver and Longview, WA. Having become disabled, the owning dentist abandoned the practice, which led to the appointment of the receiver.

Advanced CFO

Advanced CFO hired interim doctors to treat patients, implemented a pay-for-performance plan among staff, sold non-productive assets, and restored the practice’s profitability. Advanced CFO worked closely with the secured lender and unsecured trade vendors on the recovery to keep the practices functioning, and the clinics were ultimately sold within seven months for greater than appraised value. Judge Hernandez congratulated the Receiver on a very efficient and pleasing outcome on its discharge.

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