Situation

ToneyKorf was engaged by a Senior Secured Lender to provide Interim Management and Financial Advisory services to a substance use and mental health treatment provider with facilities located throughout the southeast.  The Company provides a full continuum of care including detox/residential treatment, outpatient clinic services, medication assisted treatment (“MAT”), and in-recovery coaching services through 5 residential facilities and 18 outpatient locations.

Summary of Execution and Results

Once engaged, the ToneyKorf Team immediately identified numerous financial reporting weaknesses and cost-saving opportunities.  In addition, ToneyKorf has been instrumental in the development and implementation of various strategic initiatives including cost rationalization, sales and marketing, revenue cycle enhancement, liquidity management, and recapitalization strategies.