Portfolio

OrthoAlaska

Project Details


Project Type:
Merging of Practice Shares | Ownership Equalization
Amount:
$ 8,700,000
State:
Alaska
This long-standing client turned to CMAC once again – this time for expertise in the merger of shares between the doctors of the original and acquired practice. With a significant swap unwind that increased equity positions and an appraisal that indicated increased value, CMAC completed an analysis to determine the best structure that would allow the group to strip out equity and facilitate the merger. CMAC determined that the most cost-effective solution was to secure a second lien. In this process, CMAC negotiated with the bank to significantly reduce the swap spread. Ultimately buy-ins were reduced for incoming physicians, ownership was equalized, and the merger was a success.

"One of the last things I heard Dr. Powell say before he left tonight was how great it was to have you up here on behalf of the CMAC team to present that info. I agree - you explained it clearly and in simple terms. I've learned a lot from your team. You guys are great."
Eric Olson, CFO

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