Medtech

Summary

Chief Restructuring Officer

Indianapolis, IN

Medtech is a for-profit medical education provider which at the time operated 10 campuses in 6 states. In total, the school offered 33 short- and long-term programs to approximately 4,000 students.

At the time of hire the Company was projecting a multi-million funding need over the subsequent 13 weeks, dealing with accreditor issues and a deteriorating relationship with Senior Lenders.

Key Challenges

Tight Liquidity

Declining Enrollment

Burdensome Real Estate Leases

Engagement Highlights

Managed the liquidity of the business, including approving all vendor payments, negotiating payment plans extending the liquidity 5+ months beyond what was projected by the Company prior to our hire.
Prioritized and executed upon a series of liquidity improvement initiatives which created valuable cash to fund the business, including;
- Rent concessions from Landlords
- Collection of Past Due Title IV Funds & Past Due Student Debt
- Expense reductions
Advised the Board of Directors on the possible strategic options, including assessing the funding required and the potential financial and regulatory risk.
CMA developed a multi-year financial restructuring strategy, including sensitized financial projections to determine a range for potential liquidity needs.

Medtech

Summary

Chief Restructuring Officer

Key Challenges

Engagement Highlights

Sign Up for Our Newsletter