Summary
- “Big 8” CPA with broad based finance and operations experience and proven success capitalizing on opportunities to facilitate profitable growth. Areas of expertise include:
- Public Offering Preparation/SEC Reporting
- IPO and Public Offering Preparation
- High Yield Bond Offering Placement
- Secured Financing Placement
- Mergers and Acquisitions
- Financial Planning and Budgeting
- Public Company Board of Directors
- Turnaround Management .
Major Career Accomplishments
- Partnered with the Executive Management Team to maximize growth. Organized due diligence, financing and integration for all acquisitions. Secured financing with Mellon Bank. Implemented detailed federal income tax reviews.
- Grew revenue from $150 million to over $200 million.
- Developed business plan supporting growth from $150 to $300 million in revenue over five years.
- Completed seven acquisitions with a purchase price ranging from $1 million to $48 million.
- Reduced annual income tax liability by $3 million per year starting in 2005.Implemented business plan focused on same store growth, de novo development and acquisitions. Organized due diligence, financing and integration for acquisitions. Structured/hired accounting function from scratch. Led Asset Management Group with balance sheet/P&L responsibility.
- Led sale to private equity investors in 2001 resulting in a 125% increase in stock price in four years.
- Raised over $700 million in debt capital via senior secured financing and high yield bond offering.
- Structured and negotiated a $225 million high yield debt offering and a $475 million senior secured financing with B of A. Secured favorable S & P ratings following presentations and negotiations.
- Developed business plans that supported growth from $20 million to $300 million in revenue. Led and completed $100 million merger of two publicly held companies, American Health Services Corp. and Maxum Health Corp., forming a new public company, InSight Health Services, which became a profitable $92 million national company within first year.
- Directed entire merger process including the integration of 1,000-employees, all systems and state, federal, SEC and NASDAQ regulatory approvals. Managed all investor relations activities.
- Reduced DSO (day’s sales outstanding) from 85 days to 65 days over last three years.
- Led negotiation of a $24 million debt for equity swap that relieved the company of debt burden.
- Completed 15 acquisitions from $1 to $45 million purchase price.
- Assisted in the development of IRIS (InSight Radiology Information System), a fully integrated information system including patient demographics, imaging procedures and billing and collections.
- Achieved a 14-year record with no recorded material non-recurring write-off of accounts receivable or negative findings from any Medicare or Medicaid audits.
Experience
- 2005-2007 Sage Publications, INC., Thousand Oaks, CA
- 2004-2005 Pponext, INC., Long Beach, CA
- 1989-2003 Insight Health Services Corp., Newport Beach, CA
- 1996-2003 EVP, Chief Financial Officer
Chief Operating Officer (1998)
Chief Financial Officer (1991-1996)
Controller (1989-1991)
- 1981-1989 Arthur Anderson & Co., Irvine, CA
Senior Manager/ Manager (1985-1989)
Senior Associate/Associate (1981-1985)
Education
- B.S., Accounting, Magna cum Laude, Loyola Marymount University, Los Angeles, CA 1981
- California Certified Public Accountant, 1983.
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