California Proton Treatment Center

Summary

Chief Restructuring Officer

San Diego, CA

California Protons Cancer Therapy Center is a state-of-the-art medical facility specializing in proton therapy, an advanced form of radiation therapy used to treat various types of cancer. Located in San Diego, the center leverages cutting-edge technology to deliver highly precise cancer treatments while minimizing damage to surrounding healthy tissue.

The Center, part of a national proton therapy network, struggled to achieve expected utilization and operated for years without reaching break-even cash flow, ultimately filing for bankruptcy with significant debt.

Carl Marks Advisors (CMA) served as Chief Restructuring Officer, overseeing financial and operational restructuring, day-to-day management, and the eventual sale of the Center to senior lenders through a 363 sale. CMA managed non-medical operations, interfacing with key stakeholders, including physicians, IT, maintenance, and equipment vendors, while ensuring the financial and operational data supported both management and the sale process.

Key Challenges

Limited Liquidity

Bankruptcy Sale

Under Utilization of Assets

Engagement Highlights

Served as Chief Restructuring Officer, managing the facility and the Company who owned the Center, and oversaw a financial and operational restructuring which resulted in the sale of the center to the Senior Lenders through a 363 sale
Direct involvement in providing the relevant financial and operating data required to support the day-to-day management of the Center plus support the sale process
Responsible for the non-medical aspects of the Center and for interfaced with key employee groups, including physicians, IT, maintenance, equipment vendors, etc., all of which were contracted with by the company.

California Proton Treatment Center

Summary

Chief Restructuring Officer

Key Challenges

Engagement Highlights

Sign Up for Our Newsletter