“Commitment is deeply liberating – in work, in play, in love. It frees you from your fear, hesitation, and barriers in life.”
Areas of Expertise
• Strategic Options
• Revitalization Plans
• Viability Review
- The Brookdale University Hospital and Medical Center
- Saint Vincents Catholic Medical Centers of New York
Publications and Presentations
- Featured in DealFlow’s Healthcare Services Investment News, “Recent Increases in Hospital Revenues — A Blip or a Trend?” July 11, 2023
- Featured in Healthleaders, “Rural Hospitals Getting Additional $450m In Relief Funds,” May 20, 2022
- ABI Journal, “Investing in a Post-COVID Budgeting Process,” November 1, 2021
- Bloomberg Law, “Health Care Faces a Wave of Restructuring Next Year,” October 26, 2021
- ABI Healthcare Conference Panel, “Where Have the Restructurings Gone?” October 25, 2021
- TMA JCR “The Cares Act: Savior or Continuing Curse?” September 2021
- Featured in the Hospital Peer Review, “Watch for Quality Improvement Opportunities in Your Own Department,” April 2021
- Healthcare Finance, “Hospital’s financial recovery will be tied to the health of the economy before and after COVID-19,” September 17, 2020
- “Unemployment Impacts Hospital Margin and Sustainability,” September 16, 2020
- Bloomberg Law, “Hospitals Trail Rebound in Hiring as Private Insurance Declines,” September 4, 2020
- TMA Town Hall: Healthcare Industry Distress, August 19, 2020
- ABI Health Care Committee Newsletter, June 2020
- ABI Webinar “COVID-19 Impact: Survival Considerations for Every Hospital,” June 2020
- Post Pandemic Hospital Insolvency Webinar, May 2020
- Hospital Liquidity in the COVID-19 Pandemic: Impact and Mitigation Strategies, April 2020
- ABI Commercial & Regulatory Law Committee Newsletter, Oct 2017
James R. (“Jim”) Porter is a Managing Director of ToneyKorf Partners. He has spent more than 25 years working with distressed companies and organizations internationally and in the U.S. by providing turnaround and restructuring services as well as litigation support to maximize stakeholder value and return.
Jim’s ongoing work is in the successful financial restructuring of a critical access hospital in New York, where he was responsible for the identification and rapid implementation of Finance and Business Operations initiatives. This allowed the organization to avoid bankruptcy and further develop integrating with a broader system. This work continued into and through the COVID-19 pandemic.
Jim also served as the Chief Financial Officer in the restructuring of Brookdale University Hospital & Medical Center, a $500M revenue distressed hospital located in Brooklyn, New York. He also served as the SVP Restructuring, where he managed various restructuring initiatives in conjunction with the New York Department of Health to stabilize and improve healthcare delivery in East New York. This ultimately resulted in the formation of the One Brooklyn Health system, for which he oversaw the finance integration.
Prior to joining ToneyKorf, Jim was a partner with Grant Thornton, where he led restructurings in the healthcare, media, and leisure services industries. One of his most notable roles included serving as Treasurer of Saint Vincents Catholic Medical Centers of New York during its bankruptcy, which was one of the largest bankruptcies in the healthcare industry. He also led the out-of-court restructuring of the U.S. National Whitewater Center in Charlotte, North Carolina.
Jim moved to the U.S. from the U.K. in 2003 while working with KPMG Corporate Recovery, the largest restructuring practice in the U.K. Prior to moving to the U.S., he was involved in numerous complex restructuring activities across a number of industries and countries, including telecommunications and manufacturing. He was part of the team with operational oversight at Yardley of London that, at the time of its bankruptcy, was one of the oldest businesses in the U.K.
Jim is involved in the restructuring industry, with professional qualifications and memberships, including:
- Associate Chartered Accountant;
- Joint Insolvency Examination Board;
- Certified Insolvency and Restructuring Advisor;
- Certified Turnaround Professional;
- Association of Insolvency and Restructuring Advisors, member;
- American Bankruptcy Institute, member;
- Institute of Certified Accountants of England and Wales, member; and
- Turnaround Management Association, Carolinas Chapter, President.
He is also a past recipient of The M&A Advisor 40 Under 40 award for restructuring professionals.
In addition to his professional qualifications, Jim holds a Bachelor of Science in Mechanical Engineering from Nottingham University (U.K.).
Get to Know Jim
Giving back to the community: I am active in my community by serving as Vice-Chairman of the Board of Directors of the U.S. National Whitewater Center and participating in the charity bicycle challenge called “24 Hours of Booty” for the fight against Cancer.
Where I am from: Everyone that hears my British accent is surprised when I tell them I was born and raised in Hong Kong, lived in London after college, and now live in Charlotte, North Carolina.
My approach to life: Go hard or go home.
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